Mackenzie Financial Corp Decreases Holdings in 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 shares of Telus Digital (NYSE:TIXT - Free Report) by 23.7% during the 1st quarter, according to its most recent 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 quarter. 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.

Other institutional investors have also recently added to or reduced their stakes in the company. Aquatic Capital Management LLC bought a new stake in Telus Digital during the 4th quarter worth approximately $37,000. Two Sigma Securities LLC bought a new stake in shares of Telus Digital in the 4th quarter valued at $42,000. Bayesian Capital Management LP bought a new stake in shares of Telus Digital in the 4th quarter valued at $45,000. PDT Partners LLC bought a new stake in shares of Telus Digital in the 4th quarter valued at $61,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of Telus Digital in the 4th quarter valued at $101,000. 59.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. National Bankshares lowered shares of Telus Digital from an "outperform" rating to a "sector perform" rating and upped their price objective for the company from $3.50 to $4.00 in a research note on Monday, July 21st. BMO Capital Markets reduced their price objective on shares of Telus Digital from $4.50 to $3.00 and set a "market perform" rating on the stock in a research note on Monday, May 12th. National Bank Financial downgraded shares of Telus Digital from an "outperform" rating to a "sector perform" rating and set a $4.00 target price on the stock. in a research report on Monday, July 21st. CIBC dropped their target price 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. Finally, Barclays dropped their target price 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. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $3.88.

Telus Digital Stock Down 2.4%

TIXT traded down $0.09 during trading on Friday, hitting $3.68. 1,819,312 shares of the company's stock were exchanged, compared to its average volume of 614,821. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The business's 50 day moving average is $3.54 and its two-hundred day moving average is $3.18. Telus Digital has a fifty-two week low of $2.13 and a fifty-two week high of $4.77. The stock has a market cap of $1.01 billion, a P/E ratio of -2.65 and a beta of 0.90.

Telus Digital (NYSE:TIXT - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. Telus Digital had a negative net margin of 4.27% and a positive return on equity of 3.40%. The firm had revenue of $711.33 million for the quarter, compared to the consensus estimate of $660.87 million. As a group, equities analysts expect that Telus Digital will post 0.32 earnings per share for the current fiscal 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.