Principal Financial Group Inc. Increases Stake in TTEC Holdings Inc (TTEC)

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Principal Financial Group Inc. lifted its holdings in shares of TTEC Holdings Inc (NASDAQ:TTEC) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,943 shares of the business services provider’s stock after acquiring an additional 1,451 shares during the period. Principal Financial Group Inc. owned 0.25% of TTEC worth $3,255,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Wells Fargo & Company MN increased its stake in shares of TTEC by 211.0% in the third quarter. Wells Fargo & Company MN now owns 68,126 shares of the business services provider’s stock worth $1,765,000 after purchasing an additional 46,220 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of TTEC by 16.2% in the third quarter. Prudential Financial Inc. now owns 47,158 shares of the business services provider’s stock worth $1,222,000 after purchasing an additional 6,559 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of TTEC by 3.8% in the third quarter. Bank of New York Mellon Corp now owns 314,338 shares of the business services provider’s stock worth $8,141,000 after purchasing an additional 11,489 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of TTEC by 1.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,411,364 shares of the business services provider’s stock worth $36,554,000 after purchasing an additional 17,781 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of TTEC by 11.3% in the third quarter. Renaissance Technologies LLC now owns 345,322 shares of the business services provider’s stock worth $8,944,000 after purchasing an additional 35,000 shares in the last quarter. Institutional investors and hedge funds own 26.86% of the company’s stock.

In related news, Director Gregory A. Conley sold 1,500 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $34.67, for a total transaction of $52,005.00. Following the completion of the transaction, the director now directly owns 10,286 shares of the company’s stock, valued at $356,615.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 69.60% of the company’s stock.

A number of brokerages have recently issued reports on TTEC. BidaskClub cut shares of TTEC from a “hold” rating to a “sell” rating in a research note on Tuesday. TheStreet raised shares of TTEC from a “c” rating to a “b” rating in a research note on Wednesday, March 20th. Zacks Investment Research cut shares of TTEC from a “hold” rating to a “sell” rating in a research note on Thursday, January 10th. Finally, ValuEngine raised shares of TTEC from a “hold” rating to a “buy” rating in a research note on Monday, April 1st.

TTEC opened at $34.92 on Wednesday. The firm has a market cap of $1.63 billion, a P/E ratio of 23.44, a P/E/G ratio of 2.66 and a beta of 0.78. TTEC Holdings Inc has a fifty-two week low of $23.01 and a fifty-two week high of $37.55. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.24 and a quick ratio of 2.24.

TTEC (NASDAQ:TTEC) last posted its earnings results on Wednesday, March 6th. The business services provider reported $0.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.13). The company had revenue of $419.13 million for the quarter, compared to analysts’ expectations of $410.19 million. TTEC had a net margin of 2.37% and a return on equity of 20.37%. As a group, research analysts predict that TTEC Holdings Inc will post 1.65 EPS for the current year.

The business also recently announced a semiannual dividend, which will be paid on Thursday, April 18th. Investors of record on Thursday, March 28th will be paid a dividend of $0.30 per share. This represents a yield of 1.69%. This is a boost from TTEC’s previous semiannual dividend of $0.28. The ex-dividend date is Wednesday, March 27th. TTEC’s dividend payout ratio (DPR) is presently 40.27%.

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TTEC Company Profile

TTEC Holdings, Inc designs, builds, and operates omni-channel customer experiences. It operates through four segments: Customer Management Services (CMS), Customer Growth Services (CGS), Customer Technology Services (CTS), and Customer Strategy Services (CSS). The CMS segment offers customer experience delivery solutions, which integrate technology with customer experience professionals to optimize the customer experience across various channels and stages of the customer lifecycle from an onshore, offshore, or work-from-home environments.

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Institutional Ownership by Quarter for TTEC (NASDAQ:TTEC)

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