William Blair analyst Maggie Nolan has maintained their bullish stance on TTEC stock, giving a Buy rating yesterday.
Maggie Nolan’s rating is based on a comprehensive evaluation of TTEC Holdings’ recent performance and strategic positioning in the market. TTEC’s first-quarter results showcased a commendable performance, surpassing top-line expectations and aligning with projected earnings. The company’s ability to maintain its guidance amidst challenging conditions is a testament to its resilience. Despite facing headwinds within its Engage segment, TTEC has effectively secured over two dozen new clients, including sizable traditional enterprises, indicating a bullish outlook on long-term growth. Additionally, the company’s backlog in the Digital segment demonstrates an improved positioning compared to the previous year, signaling a robust pipeline for future revenue.
The decision to endorse TTEC with a Buy rating also hinges on the firm’s competitive edge in customer experience services. TTEC’s distinct digital capabilities are seen as key drivers for expansion, while its diversification into various sectors such as healthcare, automotive, and the public sector provides further stability and growth prospects. The company’s offshore delivery model continues to attract demand, accounting for a significant portion of revenue and new bookings. Management’s strategic emphasis on growth accounts with large technology budgets, capable of accepting multi-location delivery, presents additional opportunities for scaling operations and enhancing profitability. These factors collectively underpin Maggie Nolan’s optimistic perspective on TTEC Holdings’ stock.
Nolan covers the Technology sector, focusing on stocks such as CSG Systems International, TTEC Holdings, and Perficient. According to TipRanks, Nolan has an average return of -1.6% and a 41.67% success rate on recommended stocks.
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TTEC Holdings (TTEC) Company Description:
TTEC Holdings, Inc. is a digital global customer experience technology and services company focused on the design, implementation and delivery of transformative solutions for many of brands. The company operates through the following segments: TTEC Digital and TTEC Engage. TTEC Digital segment provides design, build and operate tech-enabled, insight-driven CX solutions. TTEC Engage segment provided digitally-enabled customer care, acquisition, and fraud prevention services. The company was founded by Kenneth D. Tuchman in 1982 and is headquartered in Englewood, CO.
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