D. E. Shaw & Co. Inc. Has $2.90 Million Stock Position in TELUS Digital (NYSE:TIXT)

D. E. Shaw & Co. Inc. raised its holdings in TELUS Digital (NYSE:TIXT - Free Report) by 365.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 739,609 shares of the company's stock after buying an additional 580,726 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.27% of TELUS Digital worth $2,904,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC grew its holdings in TELUS Digital by 376.5% in the 4th quarter. Cubist Systematic Strategies LLC now owns 56,802 shares of the company's stock valued at $223,000 after buying an additional 44,881 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of TELUS Digital during the 4th quarter worth approximately $122,000. Bayesian Capital Management LP acquired a new stake in shares of TELUS Digital during the 4th quarter worth approximately $45,000. Bank of America Corp DE grew its holdings in shares of TELUS Digital by 14.3% during the 4th quarter. Bank of America Corp DE now owns 419,723 shares of the company's stock worth $1,645,000 after purchasing an additional 52,561 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in shares of TELUS Digital during the 4th quarter worth approximately $101,000. Institutional investors and hedge funds own 59.55% of the company's stock.

Analyst Upgrades and Downgrades

TIXT has been the topic of several recent research reports. National Bankshares decreased their price objective on TELUS Digital from $4.25 to $3.00 and set a "sector perform" rating on the stock in a report on Friday, April 25th. Scotiabank decreased their price objective on TELUS Digital from $5.00 to $3.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 29th. BMO Capital Markets decreased their price objective on TELUS Digital from $4.50 to $3.00 and set a "market perform" rating on the stock in a report on Monday, May 12th. National Bank Financial raised TELUS Digital from a "sector perform" rating to an "outperform" rating in a report on Friday, May 9th. Finally, Barclays decreased their price objective on TELUS Digital from $5.00 to $3.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, TELUS Digital has an average rating of "Hold" and a consensus target price of $4.07.

TELUS Digital Stock Performance

Shares of TIXT opened at $2.86 on Tuesday. The stock has a fifty day moving average price of $2.59 and a two-hundred day moving average price of $3.28. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.95 and a current ratio of 0.95. TELUS Digital has a 52-week low of $2.13 and a 52-week high of $6.86. The company has a market cap of $788.36 million, a price-to-earnings ratio of -8.17, a PEG ratio of 4.71 and a beta of 0.72.

TELUS Digital (NYSE:TIXT - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The firm had revenue of $647.04 million during the quarter, compared to the consensus estimate of $650.18 million. TELUS Digital had a positive return on equity of 5.73% and a negative net margin of 2.30%. Analysts predict that TELUS Digital will post 0.32 EPS for the current fiscal year.

TELUS Digital Company Profile

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.

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