Investors Buy Large Volume of Put Options on TTEC (NASDAQ:TTEC)

TTEC Holdings, Inc. (NASDAQ:TTEC) saw some unusual options trading on Friday. Traders bought 10,254 put options on the stock. This is an increase of 4,358% compared to the typical volume of 230 put options.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TTEC. Guggenheim upgraded TTEC from a “sell” rating to a “neutral” rating in a research report on Tuesday, October 1st. Northland Securities lowered their price target on shares of TTEC from $19.00 to $16.00 and set an “outperform” rating for the company in a research report on Tuesday, August 13th. Canaccord Genuity Group cut their price objective on shares of TTEC from $8.00 to $4.50 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. Finally, StockNews.com cut shares of TTEC from a “hold” rating to a “sell” rating in a research report on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, TTEC currently has an average rating of “Hold” and an average price target of $11.90.

TTEC Stock Performance

Shares of TTEC opened at $4.74 on Friday. The firm has a market capitalization of $226.24 million, a PE ratio of -0.68, a P/E/G ratio of 3.16 and a beta of 1.05. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 3.47. The firm has a 50-day moving average price of $5.05 and a 200 day moving average price of $5.87. TTEC has a 52-week low of $3.67 and a 52-week high of $22.69.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC lifted its position in TTEC by 119.7% in the third quarter. Barclays PLC now owns 33,654 shares of the business services provider’s stock worth $197,000 after purchasing an additional 18,339 shares during the period. XTX Topco Ltd acquired a new stake in shares of TTEC in the third quarter valued at $59,000. Quantinno Capital Management LP bought a new position in TTEC during the third quarter valued at about $121,000. ClearAlpha Technologies LP acquired a new position in TTEC during the third quarter worth about $411,000. Finally, Walleye Capital LLC raised its position in TTEC by 44.3% in the third quarter. Walleye Capital LLC now owns 441,151 shares of the business services provider’s stock worth $2,590,000 after acquiring an additional 135,355 shares in 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.