Two Sigma Investments LP Buys 424,484 Shares of TELUS Digital (NYSE:TIXT)

Two Sigma Investments LP lifted its holdings in shares of TELUS Digital (NYSE:TIXT - Free Report) by 578.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 497,821 shares of the company's stock after acquiring an additional 424,484 shares during the quarter. Two Sigma Investments LP owned approximately 0.18% of TELUS Digital worth $1,951,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Medina Value Partners LLC purchased a new stake in shares of TELUS Digital in the 4th quarter worth about $8,211,000. Arrowstreet Capital Limited Partnership increased its stake 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 acquiring an additional 1,418,119 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of TELUS Digital by 27.2% during 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. D. E. Shaw & Co. Inc. boosted its position in shares of TELUS Digital by 365.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 739,609 shares of the company's stock worth $2,904,000 after purchasing an additional 580,726 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of TELUS Digital by 72.0% in the 4th quarter. Renaissance Technologies LLC now owns 502,800 shares of the company's stock worth $1,971,000 after buying an additional 210,400 shares during the last quarter. Hedge funds and other institutional investors own 59.55% of the company's stock.

TELUS Digital Stock Performance

Shares of TIXT traded up $0.09 on Tuesday, reaching $3.02. The company's stock had a trading volume of 409,734 shares, compared to its average volume of 396,606. The stock's 50 day simple moving average is $2.60 and its two-hundred day simple moving average is $3.20. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $831.08 million, a P/E ratio of -8.61, a PEG ratio of 4.71 and a beta of 0.72. 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 issued its quarterly earnings results on Friday, May 9th. The company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. TELUS Digital had a negative net margin of 2.30% and a positive return on equity of 5.73%. The business had revenue of $647.04 million for the quarter, compared to analysts' expectations of $650.18 million. Research analysts forecast that TELUS Digital will post 0.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. National Bankshares dropped their price target on shares of TELUS Digital from $4.25 to $3.00 and set a "sector perform" rating on the stock in a research note on Friday, April 25th. BMO Capital Markets lowered their price target on TELUS Digital from $4.50 to $3.00 and set a "market perform" rating on the stock in a report on Monday, May 12th. Scotiabank dropped their price objective 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. TD Securities boosted their target price on TELUS Digital from $3.75 to $4.00 and gave the stock a "hold" rating in a research report on Friday, February 14th. Finally, National Bank Financial upgraded shares of TELUS Digital from a "sector perform" rating to an "outperform" rating in a research note on Friday, May 9th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target 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.