The stock of Sykes Enterprises, Incorporated (NASDAQ:SYKE) hit a new 52-week low and has $23.65 target or 9.00% below today’s $25.99 share price. The 5 months bearish chart indicates high risk for the $1.12 billion company. The 1-year low was reported on Nov, 10 by Barchart.com. If the $23.65 price target is reached, the company will be worth $100.80 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock decreased 2.33% or $0.62 during the last trading session, hitting $25.99. About 393,950 shares traded hands or 93.26% up from the average. Sykes Enterprises, Incorporated (NASDAQ:SYKE) has declined 7.96% since April 8, 2016 and is downtrending. It has underperformed by 13.60% the S&P500.
Sykes Enterprises, Incorporated (NASDAQ:SYKE) Ratings Coverage
Out of 2 analysts covering Sykes Enterprises (NASDAQ:SYKE), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Sykes Enterprises has been the topic of 4 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The stock has “Mkt Perform” rating given by Barrington Research on Wednesday, January 20. Zacks downgraded the shares of SYKE in a report on Wednesday, August 5 to “Strong-Buy” rating. The firm has “Buy” rating given on Tuesday, March 8 by Craig Hallum.
According to Zacks Investment Research, “Sykes Enterprises, Inc. is a leader in providing vertically integrated technology-based solutions through an integrated strategy combining its information technology services with an emerging e-commerce platform. Sykes’ continues to leverage its position as a leading provider of information technology services by assisting its clients in capitalizing on the growth of e-commerce over the Internet. Sykes’ e-commerce service platform enables it to comprehensively continue to expand by serving as a single-source provider of Internet-based technology solutions.”
Insitutional Activity: The institutional sentiment increased to 0.96 in Q2 2016. Its up 0.06, from 0.9 in 2016Q1. The ratio increased, as 18 funds sold all Sykes Enterprises, Incorporated shares owned while 60 reduced positions. 17 funds bought stakes while 58 increased positions. They now own 35.56 million shares or 10.19% less from 39.60 million shares in 2016Q1.
Moreover, Nationwide Fund Advsr has 0.02% invested in Sykes Enterprises, Incorporated (NASDAQ:SYKE) for 128,833 shares. Profund Advsr Ltd Llc holds 0.01% of its portfolio in Sykes Enterprises, Incorporated (NASDAQ:SYKE) for 7,274 shares. C M Bidwell & Associate Limited accumulated 11,280 shares or 0.08% of the stock. Glenmede Co Na last reported 84,532 shares in the company. Goldman Sachs has invested 0% of its portfolio in Sykes Enterprises, Incorporated (NASDAQ:SYKE). Walleye Trading Limited Liability owns 1,500 shares or 0% of their US portfolio. Connor Clark & Lunn Invest Mgmt last reported 0.01% of its portfolio in the stock. Qs Investors Limited Liability has 164,075 shares for 0.04% of their US portfolio. Moreover, Great West Life Assurance Commerce Can has 0% invested in Sykes Enterprises, Incorporated (NASDAQ:SYKE) for 5,385 shares. Wcm Investment Management Ca owns 221,585 shares or 0.1% of their US portfolio. Royal Natl Bank Of Canada reported 41,320 shares or 0% of all its holdings. Credit Suisse Ag has 0% invested in the company for 45,228 shares. National Bank Of Montreal Can holds 0% of its portfolio in Sykes Enterprises, Incorporated (NASDAQ:SYKE) for 106,391 shares. The Texas-based Smith Asset Lp has invested 0.09% in Sykes Enterprises, Incorporated (NASDAQ:SYKE). Copper Rock Cap Prtn Ltd Liability reported 597,962 shares or 1.31% of all its holdings.
Insider Transactions: Since May 12, 2016, the stock had 0 insider purchases, and 4 insider sales for $2.27 million net activity. On Tuesday, August 9 HOLDER JAMES T sold $100,790 worth of the stock or 3,300 shares. 1,300 shares with value of $38,481 were sold by Chapman John on Thursday, May 12. The insider Sykes Charles E sold $1.46 million. 13,700 shares were sold by WHITING PAUL L, worth $405,679 on Thursday, August 18. 10,116 shares were sold by MEURER WILLIAM J, worth $307,021.
Another recent and important Sykes Enterprises, Incorporated (NASDAQ:SYKE) news was published by Marketwired.com which published an article titled: “Sykes Enterprises, Incorporated to Participate in SunTrust Robinson Humphrey’s …” on November 09, 2016.
SYKE Company Profile
Sykes Enterprises, Incorporated (Sykes), incorporated on March 1, 1996, is engaged in providing outsourced customer contact management solutions and services in the business process outsourcing (BPO) arena. The Firm provides an array of customer contact management solutions to a range of clients, including various companies, medium-sized businesses and public institutions around the world, primarily in the communications, financial services, technology or consumer, transportation and leisure, healthcare and other industry verticals. The Firm has activities in two divisions: the Americas, which includes the United States, Canada, Latin America, Australia and the Asia Pacific Rim, and EMEA, which includes Europe, the Middle East and Africa. The Company’s Americas and EMEA regions primarily provide customer contact management services (with an emphasis on inbound technical support and customer service), which include customer assistance, healthcare and roadside assistance, technical support and product sales to its clients customers. The Firm delivers its services through multiple communication channels, including phone, e-mail, social media, text messaging and chat.
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