Teleperformance

Teleperformance is engaged in outsourced customer experience management. Co. delivers integrated solutions to corporations and administrative bodies worldwide to manage all aspects of the customer-relations cycle on their behalf. Co.'s activities include four core business areas: customer care (these are services provided as part of customer service management); technical support; debt collection; and business information and marketing actions. As of Dec. 31, 2013, Co. had approximately 110,000 computerized workstations across 46 countries. Co.'s client includes industries like Telecoms, Internet, Financial services, Technology/media, Insurance, Government sector and Utilities.
  • TickerTEP
  • ISINFR0000051807
  • ExchangeEuronext Paris
  • SectorSupport Services
  • CountryFrance
Christophe Chaput

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/14/2021

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Christophe Chaput

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/01/2021

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Christophe Chaput

Teleperformance : Dynamic year-end 2020 with further strong growth expected in 2021

>Feedback from the Forum: confirmation of dynamic activity in 2020 - At the ODDO BHF Forum, the management reiterated its 2020 targets, namely: 1/ organic growth of around +8%; and 2/ an operating margin that is expected to be at least 12.5% (vs 14.3% in 2019). Implicitly, this growth suggests still strong commercial momentum in the final quarter (increase of +9-10%) after a strong rise of +12.3% in Q3. Moreover, it should be recalled that the Q4 base of comparison is...

Christophe Chaput

Téléperformance : Une fin d’année 2020 qui reste dynamique et poursuite d’une forte croissance attendue pour 2021

>Feedback Forum : confirmation d’une activité dynamique en 2020 - A l’occasion de notre Forum, le management a réitéré ses objectifs 2020, à savoir : 1/ Une croissance organique d’environ +8% ; 2/ Une marge opérationnelle attendue à au moins 12.5% (vs 14.3% en 2019). Implicitement, cette évolution induit la poursuite d’une dynamique commerciale toujours soutenue sur le dernier trimestre (+9/10% de hausse) après un T3 en très forte hausse de +12.3%. Par ailleurs, la ba...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Emerging Markets Breaking Out We see global equities (ACWI-US) going through a consolidation phase between support at $77 and resistance at $84. To reiterate, as long as ACWI-US is above $77 we are constructive and would be buyers. Our work suggests that $77 support is likely to hold based on current market dynamics, and we would flip to bullish on a breakout above $84. · Emerging Markets Breaking Out. One of the many dynamics that supports our constructive outlook is that emerging markets (EEM-US) are breaking above major $46.30 resistance to hit highs not seen since June 2018. Addi...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Global Equities Dive, Testing Major Support Global equities have gone from extreme bullish sentiment and an extended market to panic and fear over coronavirus concerns. It is virtually impossible to predict what will happen regarding the virus or how much further markets could sell off as a result. Below we explain our outlook based on what we do know, which has been dampened but is not yet dire. • Indexes Testing Major Support. Major indexes are testing long-term base support and/or support at their respective 200-day MAs. These include the MSCI ACWI, ACWI ex-US, EAFE, EM, S&P 500, Nikkei...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Growth Over Value We continue to see coronavirus concerns as helping correct the excess bullish sentiment in the short-term. Additionally, considering the dearth of breakdowns, we continue to believe this is a bull market until proven otherwise and a “buy the dip” strategy remains warranted. • Major Indexes Holding Up Well. As mentioned above, breakdowns in major indexes are hard to come by. EM (MSCI EM), China (MSCI China), Europe (STOXX 600), MSCI ACWI, ACWI ex-US, and EAFE have all pulled back to their 50-day MAs, while Japan (TOPIX) appears to be finding support at its 100-day MA. ...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Bullish Stocks

EAFE > EM; Add exposure to Japan Continue to favor EAFE over EM. As long as the U.S. dollar remains elevated, we believe developed international (EAFE) will remain in a leadership position relative to EM (MSCI EM). Below we highlight attractive and actionable themes within developed int'l: • Japan, Switzerland, Australia, Canada. Major Japanese indexes have been underperforming for nearly two years but are making bullish price and RS inflections and exhibit early signs of bottoming. Switzerland, Australia, and Canada are all trading at multi-year highs and are among the most attractive co...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Bullish HR & Staffing Stocks

Int'l Human Resources & Employment Services Groups are bottoming -- add exposure Our international Human Resources & Employment Services Groups (SV-10, -11, and -12) are showing signs of price and RS bottoms throughout Japan, Europe, and the UK... see charts below. We believe short-term pullbacks in the names highlighted today should be bought, particularly in light of the Fed hinting at increased flexibility and the potential for improving trade headlines. Today we highlight our favorite setups within our int'l HR & Employment Services Groups: Recruit Holdings Co., Ltd. (6098-JP), PERSOL ...

Valérie GASTALDY

Short term view - TELEPERFORMANCE : The trend is uncertain.

The trend is uncertain. Prices are falling, but the trend is lacking power for the time being. The next support is at €141.10.

Christophe Chaput

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/14/2021

...

Christophe Chaput

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/01/2021

...

Christophe Chaput

Teleperformance : Dynamic year-end 2020 with further strong growth expected in 2021

>Feedback from the Forum: confirmation of dynamic activity in 2020 - At the ODDO BHF Forum, the management reiterated its 2020 targets, namely: 1/ organic growth of around +8%; and 2/ an operating margin that is expected to be at least 12.5% (vs 14.3% in 2019). Implicitly, this growth suggests still strong commercial momentum in the final quarter (increase of +9-10%) after a strong rise of +12.3% in Q3. Moreover, it should be recalled that the Q4 base of comparison is...

Christophe Chaput

Téléperformance : Une fin d’année 2020 qui reste dynamique et poursuite d’une forte croissance attendue pour 2021

>Feedback Forum : confirmation d’une activité dynamique en 2020 - A l’occasion de notre Forum, le management a réitéré ses objectifs 2020, à savoir : 1/ Une croissance organique d’environ +8% ; 2/ Une marge opérationnelle attendue à au moins 12.5% (vs 14.3% en 2019). Implicitement, cette évolution induit la poursuite d’une dynamique commerciale toujours soutenue sur le dernier trimestre (+9/10% de hausse) après un T3 en très forte hausse de +12.3%. Par ailleurs, la ba...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Emerging Markets Breaking Out We see global equities (ACWI-US) going through a consolidation phase between support at $77 and resistance at $84. To reiterate, as long as ACWI-US is above $77 we are constructive and would be buyers. Our work suggests that $77 support is likely to hold based on current market dynamics, and we would flip to bullish on a breakout above $84. · Emerging Markets Breaking Out. One of the many dynamics that supports our constructive outlook is that emerging markets (EEM-US) are breaking above major $46.30 resistance to hit highs not seen since June 2018. Addi...

Expert Corporate Governance Service (ECGS)

Teleperformance - AGM 26 June 2020

Date of AGM postponed from 16 April 2020 to 26 June 2020.REMUNERATIONResolutions relating to remuneration were again strongly contested in 2019, with approval rates ranging from only 57.6% to 70.6%. Despite a change in compensation policy in 2019, the compensation of Daniel Julien, Chairman-CEO, and Olivier Rigaudy, Deputy CEO, is still far too high. They amount to €13.2 million and €4.4 million respectively. Thus, Daniel Julien's compensation would occupy the 4th place of the best paid executives according to the ranking carried out by Proxinvest in 2019, whereas Teleperformance is not part o...

Charles Pinel

Teleperformance - Assemblée Générale des actionnaires du 26 Juin 2020

Les résolutions portant sur les rémunérations avaient été de nouveau fortement contestées en 2019 avec des taux d'approbation compris entre seulement 57,6% à 70,6%. Malgré une modification de la politique de rémunération effectuée en 2019, les rémunérations de Daniel Julien, Président-directeur général, et d'Olivier Rigaudy, Directeur général délégué, sont encore bien trop élevées. Elles atteignent respectivement 13,2 M€ et 4,4 M€. Ainsi, la rémunération de Daniel Julien occuperait la 4ème place des dirigeants les mieux payés selon le classement effectué par Proxinvest en 2019 alors que Telepe...

Teleperformance- Assemblée Générale des actionnaires du 1er octobre 2019

L'assemblée générale des actionnaires du 9 mai 2019 a approuvé une résolution d'acquisition et de vente par la société de ses propres actions pour un prix maximum unitaire de 180 €. Cependant, en raison de la hausse du cours de l'action qui s'élève actuellement à 199,6 €, il a été décidé de soumettre une nouvelle autorisation dans les mêmes termes et conditions que celle approuvée précédemment mais pour un prix maximum unitaire porté à 250 €. Le rachat a bien été exclu en période d'offre et les autres caractéristiques de la résolution semblent acceptables pour la soutenir.

Expert Corporate Governance Service (ECGS)

Teleperformance - AGM 1st October 2019

The General Meeting of shareholders held on May 9, 2019 has authorized the Board of Directors to have the Company repurchase its own shares for a maximum purchase price of €180 per share. The Teleperformance SE share price having reached €180 several times and currently amounts to around €200. It was thus decided to submit a new authorization, under similar terms and conditions to the one approved by the General Meeting held on May 9, 2019, but for a maximum purchase price brought to €250 per share. Considering these features, we recommend approval.

Téléperformance - Assemblée générale des actionnaires du 09 mai 2019

Cette année encore, la rémunération de Daniel Julien, Président-Directeur général, est trop élevée avec un montant de 4,5 M€. Contestée en 2018 avec un taux d'approbation de seulement 71,5%, il est proposé plusieurs modifications à la politique de rémunération dont la mise en place d'une attribution annuelle d'actions de performance contre tous les trois ans précédemment. Cette mesure a pour objectif notamment de réduire la proportion de la part fixe qui est très élevée. Elle a surtout un caractère inflationniste selon Proxinvest. Dans ces conditions, les résolutions portant sur les rémunérati...

Harald Eggeling

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/04/2020

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Geoffroy Michalet

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 04/11/2020

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Ahmed Ben Salem ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Jean Sassus
  • Laurence Hofmann
  • Martial Descoutures
  • Matthias Desmarais
  • Nicolas David
  • Olfa Taamallah
  • Samantha Jeary
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/29/2020

With the support of our economists, we have drawn up growth profiles for four types of recovery: v, V, U and L/W. We note that: 1/ the market has eliminated the weakest scenarios (U and L) to focus on the most dynamic ones (v, V). Only the v profile results in 2021e earnings that are higher than in 2019 (Stoxx 600 at 406 points in December 2020). Without going as far as a v scenario, the market is easily playing a V-recovery. This is consistent with a drop of 3% in global growth in 2...

TELEPERFORMANCE sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of TELEPERFORMANCE (FR), active in the Computer Services industry. As regards its fundamental valuation, the title now shows 0 out of 4 stars while market behaviour can be considered moderately risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date October 27, 2020, the closing price was EUR 254.70 and its target price was estimated at EUR 212.82.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the we...

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