Mackenzie Financial Corp Purchases 2,578,241 Shares of TELUS Digital (NYSE:TIXT)

Mackenzie Financial Corp boosted its stake in shares of TELUS Digital (NYSE:TIXT - Free Report) by 31.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,868,451 shares of the company's stock after purchasing an additional 2,578,241 shares during the quarter. Mackenzie Financial Corp owned about 3.95% of TELUS Digital worth $42,673,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TIXT. Clearbridge Investments LLC grew its position in shares of TELUS Digital by 27.2% in the fourth quarter. Clearbridge Investments LLC now owns 5,606,794 shares of the company's stock valued at $21,979,000 after purchasing an additional 1,198,312 shares during the last quarter. Scheer Rowlett & Associates Investment Management Ltd. grew its holdings in TELUS Digital by 1.2% in the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,189,850 shares of the company's stock valued at $12,522,000 after buying an additional 38,587 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in TELUS Digital by 209.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,095,220 shares of the company's stock valued at $8,222,000 after buying an additional 1,418,119 shares during the last quarter. Medina Value Partners LLC bought a new position in TELUS Digital in the 4th quarter worth approximately $8,211,000. Finally, D. E. Shaw & Co. Inc. lifted its holdings 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 buying an additional 580,726 shares during the last quarter. Institutional investors and hedge funds own 59.55% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. TD Securities raised their price objective on shares of TELUS Digital from $3.75 to $4.00 and gave the stock a "hold" rating in a research note on Friday, February 14th. National Bank Financial raised shares of TELUS Digital from a "sector perform" rating to an "outperform" rating in a report on Friday, May 9th. Barclays dropped 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 report on Friday, April 25th. BMO Capital Markets reduced their target price on shares of TELUS Digital from $4.50 to $3.00 and set a "market perform" rating for the company in a research note on Monday, May 12th. Finally, Scotiabank decreased their target price on TELUS Digital from $5.00 to $3.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 29th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, TELUS Digital has a consensus rating of "Hold" and an average price target of $4.07.

TELUS Digital Price Performance

TIXT traded down $0.04 during midday trading on Friday, reaching $2.81. 63,435 shares of the company's stock were exchanged, compared to its average volume of 395,372. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.72. The business has a 50-day simple moving average of $2.60 and a two-hundred day simple moving average of $3.22. The firm has a market capitalization of $773.20 million, a price-to-earnings ratio of -8.04, a price-to-earnings-growth ratio of 4.71 and a beta of 0.72. TELUS Digital has a one year low of $2.13 and a one year high of $6.86.

TELUS Digital (NYSE:TIXT - Get Free Report) last issued its earnings results on Friday, May 9th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.06. The business had revenue of $647.04 million during the quarter, compared to analysts' expectations of $650.18 million. TELUS Digital had a positive return on equity of 5.73% and a negative net margin of 2.30%. As a group, research analysts predict that TELUS Digital will post 0.32 EPS 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.