Sykes Enterprises, Incorporated (NASDAQ:SYKE) Sees Significant Growth in Short Interest

Sykes Enterprises, Incorporated (NASDAQ:SYKE) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 1,434,300 shares, a growth of 8.8% from the May 15th total of 1,318,500 shares. Approximately 3.6% of the shares of the company are short sold. Based on an average daily trading volume, of 140,500 shares, the days-to-cover ratio is currently 10.2 days.

Several equities research analysts have recently weighed in on SYKE shares. SunTrust Banks reaffirmed a “buy” rating on shares of Netflix in a report on Friday, April 12th. BidaskClub lowered shares of Ames National from a “hold” rating to a “sell” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Sykes Enterprises has an average rating of “Hold” and an average price target of $31.00.

NASDAQ:SYKE traded down $0.19 during mid-day trading on Friday, reaching $28.02. 133,314 shares of the company were exchanged, compared to its average volume of 152,806. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.27 and a current ratio of 2.27. Sykes Enterprises has a 12 month low of $22.67 and a 12 month high of $31.41. The stock has a market capitalization of $1.19 billion, a PE ratio of 13.87, a PEG ratio of 1.31 and a beta of 0.85. The firm’s fifty day moving average is $26.82.

Sykes Enterprises (NASDAQ:SYKE) last released its earnings results on Monday, May 6th. The information technology services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The company had revenue of $402.93 million for the quarter, compared to the consensus estimate of $404.73 million. Sykes Enterprises had a net margin of 3.08% and a return on equity of 10.53%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.43 EPS. On average, equities research analysts predict that Sykes Enterprises will post 2.15 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in SYKE. Versant Capital Management Inc raised its holdings in Sykes Enterprises by 68.4% during the 1st quarter. Versant Capital Management Inc now owns 1,135 shares of the information technology services provider’s stock worth $32,000 after buying an additional 461 shares during the period. Meeder Asset Management Inc. grew its stake in shares of Sykes Enterprises by 3,276.7% in the first quarter. Meeder Asset Management Inc. now owns 1,452 shares of the information technology services provider’s stock valued at $41,000 after buying an additional 1,409 shares in the last quarter. Quantamental Technologies LLC bought a new position in shares of Sykes Enterprises in the first quarter valued at $51,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of Sykes Enterprises in the fourth quarter valued at $106,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Sykes Enterprises in the first quarter valued at $202,000. Institutional investors and hedge funds own 88.62% of the company’s stock.

Sykes Enterprises Company Profile

Sykes Enterprises, Incorporated, together with its subsidiaries, provides multichannel demand generation and global customer engagement services. Its customer care services include handling billing inquiries and claims, activating customer accounts, resolving complaints, cross-selling/up-selling, and prequalifying and warranty management, as well as providing health information and dispatching roadside assistance.

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