TTEC Target of Unusually High Options Trading (NASDAQ:TTEC)

TTEC Holdings, Inc. (NASDAQ:TTEC) saw unusually large options trading on Friday. Investors acquired 10,254 put options on the company. This represents an increase of approximately 4,358% compared to the typical daily volume of 230 put options.

TTEC Trading Down 2.9 %

TTEC traded down $0.14 during trading on Friday, hitting $4.65. 150,168 shares of the stock traded hands, compared to its average volume of 546,413. The business has a 50 day moving average price of $5.05 and a 200 day moving average price of $5.87. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 3.47. TTEC has a twelve month low of $3.67 and a twelve month high of $22.69.

Wall Street Analyst Weigh In

TTEC has been the subject of several recent research reports. Guggenheim upgraded TTEC from a “sell” rating to a “neutral” rating in a research note on Tuesday, October 1st. Canaccord Genuity Group reduced their target price on shares of TTEC from $8.00 to $4.50 and set a “hold” rating for the company in a research report on Tuesday, August 13th. StockNews.com lowered shares of TTEC from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Northland Securities cut their price objective on shares of TTEC from $19.00 to $16.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $11.90.

Institutional Trading of TTEC

Institutional investors and hedge funds have recently modified their holdings of the business. Federated Hermes Inc. grew its holdings in shares of TTEC by 324.2% during the 2nd quarter. Federated Hermes Inc. now owns 1,180,409 shares of the business services provider’s stock valued at $6,941,000 after purchasing an additional 902,159 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of TTEC by 227.2% during the second quarter. AQR Capital Management LLC now owns 630,908 shares of the business services provider’s stock worth $3,710,000 after buying an additional 438,072 shares during the last quarter. Royce & Associates LP increased its holdings in shares of TTEC by 77.6% during the third quarter. Royce & Associates LP now owns 788,622 shares of the business services provider’s stock worth $4,629,000 after buying an additional 344,496 shares in the last quarter. Invenomic Capital Management LP acquired a new position in shares of TTEC during the first quarter worth $2,910,000. Finally, Vanguard Group Inc. lifted its stake in shares of TTEC by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 2,570,247 shares of the business services provider’s stock valued at $26,653,000 after acquiring an additional 160,567 shares during the last quarter. 38.03% of the stock is currently owned by institutional investors.

TTEC Company Profile

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.