Northwest & Ethical Investments L.P. Sells 144,397 Shares of Telus Digital $TIXT

Key Points

• Northwest & Ethical Investments L.P. reduced its stake in Telus Digital by 7.9%, selling 144,397 shares and maintaining a total ownership of 1,676,677 shares valued at approximately $4.5 million.
• Several hedge funds have recently acquired new positions in Telus Digital, with institutional investors now owning 59.55% of the company's stock.
• Analysts have downgraded Telus Digital's stock ratings, with an average target price of $3.69 and a majority rating of "Hold" from ten investment analysts.

Northwest & Ethical Investments L.P. decreased its stake in Telus Digital (NYSE:TIXT - Free Report) by 7.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,676,677 shares of the company's stock after selling 144,397 shares during the period. Northwest & Ethical Investments L.P. owned 0.61% of Telus Digital worth $4,500,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TIXT. Aquatic Capital Management LLC bought a new position in shares of Telus Digital in the 4th quarter valued at about $37,000. Two Sigma Securities LLC acquired a new stake in Telus Digital in the 4th quarter valued at about $42,000. Bayesian Capital Management LP acquired a new stake in Telus Digital in the 4th quarter valued at about $45,000. PDT Partners LLC acquired a new stake in Telus Digital in the 4th quarter valued at about $61,000. Finally, BNP Paribas Financial Markets acquired a new stake in Telus Digital in the 4th quarter valued at about $101,000. Institutional investors own 59.55% of the company's stock.

Analysts Set New Price Targets

TIXT has been the subject of several research reports. Wall Street Zen downgraded shares of Telus Digital from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. National Bank Financial downgraded shares of Telus Digital from an "outperform" rating to a "sector perform" rating and set a $4.00 price objective for the company. in a research report on Monday, July 21st. Barclays cut their price objective on shares of Telus Digital from $5.00 to $3.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. BMO Capital Markets cut their price objective on shares of Telus Digital from $4.50 to $3.00 and set a "market perform" rating for the company in a research report on Monday, May 12th. Finally, CIBC cut their price objective on shares of Telus Digital from $4.50 to $3.40 and set a "neutral" rating for the company in a research report on Friday, June 13th. Ten investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $3.69.

Telus Digital Stock Performance

Shares of Telus Digital stock opened at $3.84 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.85. Telus Digital has a twelve month low of $2.13 and a twelve month high of $4.60. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -2.76 and a beta of 0.90. The company's fifty day moving average is $3.73 and its 200 day moving average is $3.17.

Telus Digital (NYSE:TIXT - Get Free Report) last released its earnings results on Friday, August 1st. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. The business had revenue of $711.33 million for 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%. Sell-side analysts forecast 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.

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