Mackenzie Financial Corp Sells 2,577,021 Shares of Telus Digital (NYSE:TIXT)

Key Points

• Mackenzie Financial Corp reduced its holdings in Telus Digital by 23.7%, now owning approximately 3.01% of the company, worth $22.24 million.
• Several institutional investors have adjusted their stakes, with Zurcher Kantonalbank increasing its stake by 87.4% in the first quarter.
• Analysts have downgraded Telus Digital's stock consensus rating to "Hold," with a price target ranging from $3.00 to $4.00.

Mackenzie Financial Corp cut its stake in Telus Digital (NYSE:TIXT - Free Report) by 23.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,291,430 shares of the company's stock after selling 2,577,021 shares during the period. Mackenzie Financial Corp owned 3.01% of Telus Digital worth $22,240,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Telus Digital by 87.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,086 shares of the company's stock valued at $102,000 after purchasing an additional 17,764 shares during the period. TD Asset Management Inc lifted its holdings in Telus Digital by 4.0% in the first quarter. TD Asset Management Inc now owns 260,719 shares of the company's stock valued at $699,000 after buying an additional 9,992 shares during the period. QV Investors Inc. boosted its stake in Telus Digital by 0.7% in the first quarter. QV Investors Inc. now owns 6,052,635 shares of the company's stock valued at $16,233,000 after acquiring an additional 41,235 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in Telus Digital by 18.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 34,862 shares of the company's stock worth $137,000 after acquiring an additional 5,509 shares during the period. Finally, Two Sigma Advisers LP raised its position in shares of Telus Digital by 719.0% during the 4th quarter. Two Sigma Advisers LP now owns 81,900 shares of the company's stock valued at $321,000 after acquiring an additional 71,900 shares during the last quarter. 59.55% of the stock is currently owned by institutional investors and hedge funds.

Telus Digital Stock Down 2.4%

Shares of TIXT stock traded down $0.09 on Friday, hitting $3.68. 1,819,312 shares of the stock were exchanged, compared to its average volume of 614,821. The business has a 50-day moving average of $3.52 and a 200 day moving average of $3.17. Telus Digital has a fifty-two week low of $2.13 and a fifty-two week high of $4.77. The firm has a market capitalization of $1.01 billion, a P/E ratio of 16.39 and a beta of 0.90. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70.

Telus Digital (NYSE:TIXT - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The company reported $0.06 earnings per share for the quarter, hitting analysts' consensus estimates of $0.06. The firm had revenue of $647.04 million during the quarter, compared to the consensus estimate of $650.18 million. Telus Digital had a positive return on equity of 3.40% and a negative net margin of 4.27%. Equities analysts anticipate that Telus Digital will post 0.32 EPS for the current year.

Wall Street Analyst Weigh In

TIXT has been the subject of a number of analyst reports. Scotiabank lifted their price objective on Telus Digital from $3.00 to $3.40 and gave the stock a "sector perform" rating in a research note on Tuesday, June 17th. National Bank Financial cut Telus Digital from an "outperform" rating to a "sector perform" rating and set a $4.00 price target for the company. in a research note on Monday, July 21st. Wall Street Zen lowered shares of Telus Digital from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. BMO Capital Markets lowered 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, CIBC reduced their price target on shares of Telus Digital from $4.50 to $3.40 and set a "neutral" rating on the stock in a research report on Friday, June 13th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $3.88.

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.