How to put dot in timestap?

I have a string:
Code
time=20170303122334

I need the result:

20170303.122334

I did:
CODE:
ttdotss=`echo ${time} |sed 's\(.|{8\}\)/|1 /g'`

Result
sed: Function s\(.|{8\}\)/|1 /g cannot be parsed .
Could you please help me to resolve this issue?

Thanks for contribution

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