Goldman Sachs Group Inc. Buys 229,369 Shares of Telus Digital $TIXT

Key Points

• Goldman Sachs Group Inc. increased its holdings in Telus Digital by 73.5% during the first quarter, acquiring an additional 229,369 shares and bringing their total ownership to 541,635 shares valued at approximately $1.46 million.
• A significant portion of Telus Digital's stock, about 59.55%, is owned by hedge funds and institutional investors, highlighting strong institutional interest in the company.
• Recent ratings changes from analysts reflect a cautious outlook, with multiple firms downgrading Telus Digital's stock to a "hold" rating and adjusting price targets, indicating potential volatility in its market performance.

Goldman Sachs Group Inc. boosted its stake in Telus Digital (NYSE:TIXT - Free Report) by 73.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 541,635 shares of the company's stock after purchasing an additional 229,369 shares during the period. Goldman Sachs Group Inc. owned about 0.20% of Telus Digital worth $1,457,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TIXT. Mackenzie Financial Corp grew its holdings in 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 acquiring an additional 2,578,241 shares during the period. Acadian Asset Management LLC grew its holdings in Telus Digital by 1,347.7% during the 1st quarter. Acadian Asset Management LLC now owns 728,179 shares of the company's stock worth $1,942,000 after acquiring an additional 677,879 shares during the period. Two Sigma Investments LP grew its holdings in Telus Digital by 578.8% during the 4th quarter. Two Sigma Investments LP now owns 497,821 shares of the company's stock worth $1,951,000 after acquiring an additional 424,484 shares during the period. Nuveen LLC acquired a new stake in Telus Digital during the 1st quarter worth about $225,000. Finally, Two Sigma Advisers LP grew its holdings in Telus Digital by 719.0% during the 4th quarter. Two Sigma Advisers LP now owns 81,900 shares of the company's stock worth $321,000 after acquiring an additional 71,900 shares during the period. 59.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TIXT shares. Stifel Canada downgraded Telus Digital from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Stifel Nicolaus downgraded Telus Digital from a "buy" rating to a "hold" rating and increased their price target for the stock 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 raised their target price for the company from $4.00 to $4.50 in a research note on Wednesday, September 3rd. National Bank Financial downgraded Telus Digital from an "outperform" rating to a "sector perform" rating and set a $4.00 target price for the company. in a research note on Monday, July 21st. Finally, Wall Street Zen downgraded Telus Digital from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Nine research analysts have rated the stock with a Hold rating, According to MarketBeat, Telus Digital has an average rating of "Hold" and an average target price of $3.93.

Telus Digital Price Performance

Shares of TIXT traded down $0.01 during mid-day trading on Tuesday, reaching $4.48. 1,094,149 shares of the stock traded hands, compared to its average volume of 775,128. The firm has a fifty day moving average price of $4.05 and a 200 day moving average price of $3.31. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -3.22 and a beta of 0.91. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.85. Telus Digital has a 1 year low of $2.13 and a 1 year high of $4.60.

Telus Digital (NYSE:TIXT - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.01. The firm had revenue of $711.33 million during the quarter, compared to analyst estimates 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. As a group, equities research analysts predict that Telus Digital will post 0.32 earnings per share for the current 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.