June 6, 2023 – Raymond James & Associates has raised its stake in TTEC Holdings, Inc. by almost half during the fourth quarter, according to their recent filing with the Securities and Exchange Commission. The financial services firm now owns 15,462 shares of TTEC’s stock, valued at $682,000. This development is indicative of the growing interest in TTEC as a digital global customer experience technology and services company.
TTEC has recently garnered attention due to its focus on transformative solutions for many brands worldwide. The company’s mission is to design, implement and deliver tech-enabled, insight-driven CX solutions through their two operating segments: TTEC Digital and TTEC Engage. Through these segments, TTEC is aiming to provide businesses with unique customer experiences that set them apart from their competitors.
In parallel news regarding the company’s finances, Director Marc Holtzman acquired 7,960 shares of TTEC’s stock worth $249,944.00 in a transaction that occurred on May 31st. Following this purchasing event, Holtzman now personally holds a total of 33,229 shares in TTEC with an estimated value exceeding $1 million.
This insider involvement further strengthens the vote of confidence for TTEC amid increased market interest in the leadership team’s vision for innovative customer experience solutions supported by leading-edge technology platforms and key partnerships.
To conclude – given its enhanced investment activities and consistent growth story even among an uncertain economic climate and turbulent market conditions—TTEC Holdings undoubtedly represents one of today’s most promising globally oriented technology companies with a prime focus on transformative customer experiences.
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Fluctuating Fortunes: Institutional Investors Show Interest in TTEC Holdings Inc. Despite Negative Analyst Reports and Market Volatility
TTEC Holdings, Inc. is a business services provider that has attracted the interest of several institutional investors who have recently made changes to their positions in the company’s stock. BlackRock Inc. boosted its position in TTEC by 3.4% during the first quarter, now owning over 2.9 million shares valued at $241,829,000 following an additional purchase of approximately 95,573 shares during the period. Copeland Capital Management LLC lifted its position by 51.7% during the fourth quarter and now owns over 876,927 shares worth $38,699,000 with an additional purchase of nearly 298,670 shares during this time frame. Furthermore, Thrivent Financial for Lutherans increased its holdings by 6.2% in Q3 and now owns over 696k TTEC shares with a total value of $30,840,000. State Street Corp and Envestnet Asset Management Inc also increased their investments.
Despite these developments to generate investor confidence in TTEC Holdings Inc., several analysts released reports on the stock indicating negative pressure on share prices expected for some time to come. Craig Hallum lowered their price target from $60 to $50 per share in late February while Cowen & Co announced theirs would be reduced from $44 to $42 only days later.
These more pessimistic analyses followed Barrington Research’s move lowering TTEC ratings from “outperform” to “market perform” earlier that month. Bank of America also contributed to reducing forward momentum when they lowered expectations for future earnings on May fourth via a decrease in their targeted stock price from $45/share down to $40/share.
TTEC Holdings suffered as a result of these issues and saw a modest opening stock price of just above thirty-three dollars per share on June sixth after first achieving one-year highs just above seventy-seven dollars per share but falling down to one year lows at just over thirty dollars per share. TTEC’s fifty and 200-day moving averages fell to $34.46 and $41.66, respectively.
TTEC Holdings Inc.’s fortunes will likely remain capricious for the time being as institutional investors wade through an unpredictable market impacted by numerous factors including recent analyst reports and broader fluctuating economic conditions.
