Nuveen Asset Management LLC Trims Stake in TELUS Digital (NYSE:TIXT)

Nuveen Asset Management LLC trimmed its holdings in TELUS Digital (NYSE:TIXT - Free Report) by 79.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,568 shares of the company's stock after selling 219,532 shares during the period. Nuveen Asset Management LLC's holdings in TELUS Digital were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Medina Value Partners LLC purchased a new stake in TELUS Digital in the fourth quarter valued at approximately $8,211,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of TELUS Digital by 209.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,095,220 shares of the company's stock worth $8,222,000 after buying an additional 1,418,119 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of TELUS Digital by 27.2% during the 4th quarter. Clearbridge Investments LLC now owns 5,606,794 shares of the company's stock valued at $21,979,000 after buying an additional 1,198,312 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of TELUS Digital by 365.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 739,609 shares of the company's stock worth $2,904,000 after acquiring an additional 580,726 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of TELUS Digital by 72.0% during the 4th quarter. Renaissance Technologies LLC now owns 502,800 shares of the company's stock worth $1,971,000 after acquiring an additional 210,400 shares during the last quarter. 59.55% of the stock is currently owned by hedge funds and other institutional investors.

TELUS Digital Trading Up 7.5%

NYSE:TIXT traded up $0.20 during mid-day trading on Friday, reaching $2.86. 1,299,897 shares of the company's stock traded hands, compared to its average volume of 410,618. The company has a 50 day moving average price of $2.62 and a 200-day moving average price of $3.19. The firm has a market capitalization of $788.36 million, a price-to-earnings ratio of -8.17, a PEG ratio of 4.71 and a beta of 0.80. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.95 and a quick ratio of 0.95. TELUS Digital has a 12-month low of $2.13 and a 12-month high of $6.86.

TELUS Digital (NYSE:TIXT - Get Free Report) last posted its earnings results 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 for 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%. On average, sell-side analysts predict that TELUS Digital will post 0.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

TIXT has been the topic of a number of research reports. National Bank Financial upgraded TELUS Digital from a "sector perform" rating to an "outperform" rating in a research report on Friday, May 9th. TD Securities raised their price objective on TELUS Digital from $3.75 to $4.00 and gave the company a "hold" rating in a report on Friday, February 14th. BMO Capital Markets cut their target price on 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. Barclays reduced their price target on shares of TELUS Digital from $5.00 to $3.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. Finally, National Bankshares lowered their price objective on shares of TELUS Digital from $4.25 to $3.00 and set a "sector perform" rating for the company in a report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $4.07.

About TELUS Digital

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.