D. E. Shaw & Co. Inc. Purchases 580,726 Shares of TELUS Digital (NYSE:TIXT)

D. E. Shaw & Co. Inc. boosted its position in shares of TELUS Digital (NYSE:TIXT - Free Report) by 365.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 739,609 shares of the company's stock after acquiring 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 reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its position in TELUS Digital by 1.1% during the fourth quarter. Wells Fargo & Company MN now owns 316,626 shares of the company's stock worth $1,244,000 after acquiring an additional 3,397 shares in the last quarter. Franklin Resources Inc. raised its position in TELUS Digital by 3.3% during the fourth quarter. Franklin Resources Inc. now owns 113,690 shares of the company's stock worth $446,000 after acquiring an additional 3,667 shares in the last quarter. Blue Trust Inc. raised its position in TELUS Digital by 27.3% during the fourth quarter. Blue Trust Inc. now owns 28,560 shares of the company's stock worth $112,000 after acquiring an additional 6,132 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co raised its position in shares of TELUS Digital by 17.5% in the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 56,135 shares of the company's stock valued at $220,000 after purchasing an additional 8,350 shares during the period. Finally, Aquatic Capital Management LLC bought a new position in shares of TELUS Digital in the fourth quarter valued at about $37,000. 59.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TIXT. National Bank Financial raised shares of TELUS Digital from a "sector perform" rating to an "outperform" rating in a research report on Friday, May 9th. BMO Capital Markets reduced their price objective on shares of TELUS Digital from $4.50 to $3.00 and set a "market perform" rating on the stock in a research note on Monday, May 12th. National Bankshares reduced their price objective on shares of TELUS Digital from $4.25 to $3.00 and set a "sector perform" rating on the stock in a research note on Friday, April 25th. Barclays reduced their price objective on shares of TELUS Digital from $5.00 to $3.00 and set an "equal weight" rating on the stock in a research note on Friday, April 25th. Finally, Scotiabank reduced their price objective on shares of TELUS Digital from $5.00 to $3.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 29th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $4.07.

TELUS Digital Price Performance

Shares of TIXT traded down $0.05 during mid-day trading on Friday, reaching $2.66. The company had a trading volume of 85,909 shares, compared to its average volume of 397,398. The company's 50 day simple moving average is $2.59 and its 200 day simple moving average is $3.24. TELUS Digital has a 1-year low of $2.13 and a 1-year high of $6.86. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $731.85 million, a price-to-earnings ratio of -7.59, a P/E/G ratio of 4.71 and a beta of 0.72.

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

TELUS Digital 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.