TeleTech Holdings, Inc. (NASDAQ:TTEC) Sees Significant Increase in Short Interest

TeleTech Holdings, Inc. (NASDAQ:TTEC) was the recipient of a significant growth in short interest during the month of August. As of August 15th, there was short interest totaling 3,470,000 shares, a growth of 27.6% from the July 31st total of 2,720,000 shares. Currently, 17.7% of the shares of the company are short sold. Based on an average trading volume of 374,600 shares, the short-interest ratio is presently 9.3 days. Based on an average trading volume of 374,600 shares, the short-interest ratio is presently 9.3 days. Currently, 17.7% of the shares of the company are short sold.

TeleTech Stock Down 0.8%

Shares of TTEC opened at $3.75 on Wednesday. TeleTech has a 12 month low of $2.67 and a 12 month high of $6.28. The firm’s 50 day moving average is $4.26 and its 200-day moving average is $4.26. The stock has a market capitalization of $181.73 million, a PE ratio of -6.94, a P/E/G ratio of 0.40 and a beta of 1.18. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.99.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TTEC. Federated Hermes Inc. boosted its position in shares of TeleTech by 79.3% during the 1st quarter. Federated Hermes Inc. now owns 2,042,183 shares of the business services provider’s stock worth $6,719,000 after acquiring an additional 903,090 shares in the last quarter. Union Square Park Capital Management LLC acquired a new stake in shares of TeleTech during the 4th quarter worth approximately $4,441,000. Charles Schwab Investment Management Inc. boosted its position in shares of TeleTech by 239.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 631,356 shares of the business services provider’s stock worth $2,077,000 after acquiring an additional 445,440 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of TeleTech during the 2nd quarter worth approximately $1,491,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of TeleTech during the 2nd quarter worth approximately $1,130,000. 38.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TTEC shares. Zacks Research upgraded shares of TeleTech to a “hold” rating in a research report on Friday, August 8th. Barrington Research restated a “market perform” rating on shares of TeleTech in a research report on Monday, August 18th. Finally, Wall Street Zen upgraded shares of TeleTech from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.50.

About TeleTech

TTEC Holdings, Inc operates as a customer experience (CX) company that designs, builds, and operates technology-enabled customer experiences across digital and live interaction channels. It operates through two segments, TTEC Digital and TTEC Engage. The TTEC Digital segment provides CX technologies for contact center as a service, customer relationship management, and artificial intelligence (AI) and analytics; creates and implements strategic CX transformation roadmaps; sells, operates, and provides managed services for cloud platforms and premise based CX technologies; creates proprietary IP to support industry specific and custom client needs; and offers CX consulting services.