Acadian Asset Management LLC Raises Position in Telus Digital $TIXT

Key Points

• Acadian Asset Management LLC significantly increased its stake in Telus Digital by 1,347.7%, acquiring an additional 677,879 shares and bringing its total ownership to approximately 0.26% of the company, valued at about $1.94 million.
• Analyst ratings for Telus Digital have recently shifted, with National Bank Financial downgrading the stock from "outperform" to "sector perform" and setting a target price of $4.00.
• Despite a negative net margin of -14.09%, Telus Digital reported a revenue of $711.33 million for the last quarter, surpassing analysts' estimates of $660.87 million.

Acadian Asset Management LLC increased its holdings in Telus Digital (NYSE:TIXT - Free Report) by 1,347.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 728,179 shares of the company's stock after acquiring an additional 677,879 shares during the quarter. Acadian Asset Management LLC owned approximately 0.26% of Telus Digital worth $1,942,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Mackenzie Financial Corp grew its stake in shares of Telus Digital by 31.1% during the 4th quarter. Mackenzie Financial Corp now owns 10,868,451 shares of the company's stock worth $42,673,000 after purchasing an additional 2,578,241 shares during the period. QV Investors Inc. boosted its holdings in shares of Telus Digital by 0.7% in the first quarter. QV Investors Inc. now owns 6,052,635 shares of the company's stock valued at $16,233,000 after acquiring an additional 41,235 shares during the period. D. E. Shaw & Co. Inc. raised its stake in shares of Telus Digital by 365.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 739,609 shares of the company's stock worth $2,904,000 after purchasing an additional 580,726 shares during the last quarter. Circumference Group LLC raised its position in Telus Digital by 8.0% in the first quarter. Circumference Group LLC now owns 675,000 shares of the company's stock worth $1,816,000 after acquiring an additional 50,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Telus Digital by 73.5% in the first quarter. Goldman Sachs Group Inc. now owns 541,635 shares of the company's stock valued at $1,457,000 after buying an additional 229,369 shares in the last quarter. Institutional investors and hedge funds own 59.55% of the company's stock.

Telus Digital Stock Performance

Shares of Telus Digital stock traded down $0.01 during mid-day trading on Friday, hitting $4.50. 462,407 shares of the stock were exchanged, compared to its average volume of 2,433,942. Telus Digital has a 12 month low of $2.13 and a 12 month high of $4.60. The company has a market capitalization of $1.25 billion, a P/E ratio of -3.24 and a beta of 0.91. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.84 and a current ratio of 0.84. The company has a 50-day simple moving average of $4.03 and a 200 day simple moving average of $3.29.

Telus Digital (NYSE:TIXT - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. The business had revenue of $711.33 million during the quarter, compared to the consensus estimate of $660.87 million. Telus Digital had a negative net margin of 14.09% and a positive return on equity of 1.99%. Telus Digital has set its FY 2025 guidance at 0.320-0.320 EPS. Sell-side analysts anticipate that Telus Digital will post 0.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TIXT shares. Stifel Nicolaus downgraded Telus Digital from a "buy" rating to a "hold" rating and raised their target price for the company from $4.00 to $4.50 in a report on Wednesday, September 3rd. National Bankshares downgraded Telus Digital from a "sector perform" rating to a "tender" rating and lifted their price target for the company from $4.00 to $4.50 in a report on Wednesday, September 3rd. National Bank Financial downgraded Telus Digital from an "outperform" rating to a "sector perform" rating and set a $4.00 price target for the company. in a research note on Monday, July 21st. Scotiabank raised their price objective on Telus Digital from $3.40 to $4.50 and gave the stock a "sector perform" rating in a research report on Thursday, September 4th. Finally, Stifel Canada cut Telus Digital from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Nine equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $3.93.

About Telus Digital

TELUS Digital Inc design, builds, and delivers digital solutions for customer experience (CX) in the Asia-Pacific, the Central America, Europe, Africa, North America, and internationally. The company provides digital experience solutions, such as AI and bots, omnichannel CX, enterprise mobility solutions, cloud contact center, big data analytics, platform transformation, and UX/UI design; and customer experience solutions, including work anywhere/work from home, contact center outsourcing, technical support, sales growth and customer retention, healthcare/patient experience, and debt collection.