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

Two Sigma Investments LP raised its holdings in shares of TELUS Digital (NYSE:TIXT - Free Report) by 578.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 497,821 shares of the company's stock after acquiring an additional 424,484 shares during the period. Two Sigma Investments LP owned about 0.18% of TELUS Digital worth $1,951,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Medina Value Partners LLC purchased a new stake in shares of TELUS Digital during the fourth quarter valued at approximately $8,211,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of TELUS Digital by 209.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,095,220 shares of the company's stock valued at $8,222,000 after purchasing an additional 1,418,119 shares during the period. Clearbridge Investments LLC boosted its stake 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 period. D. E. Shaw & Co. Inc. boosted its stake in shares of TELUS Digital by 365.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 739,609 shares of the company's stock valued at $2,904,000 after purchasing an additional 580,726 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of TELUS Digital by 72.0% during the fourth quarter. Renaissance Technologies LLC now owns 502,800 shares of the company's stock valued at $1,971,000 after purchasing an additional 210,400 shares during the period. 59.55% of the stock is currently owned by institutional investors.

TELUS Digital Stock Down 12.9%

TELUS Digital stock traded down $0.40 on Thursday, hitting $2.67. 2,442,628 shares of the stock traded hands, compared to its average volume of 406,341. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.72. The firm has a market cap of $734.61 million, a P/E ratio of -7.61, a price-to-earnings-growth ratio of 4.71 and a beta of 0.80. The business's fifty day simple moving average is $2.61 and its 200 day simple moving average is $3.19. TELUS Digital has a 1 year low of $2.13 and a 1 year high of $6.86.

TELUS Digital (NYSE:TIXT - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $647.04 million during the quarter, compared to analyst estimates of $650.18 million. TELUS Digital had a positive return on equity of 5.73% and a negative net margin of 2.30%. As a group, sell-side analysts forecast that TELUS Digital will post 0.32 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. BMO Capital Markets dropped their price objective 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 dropped their price objective on TELUS Digital from $5.00 to $3.00 and set an "equal weight" rating for the company in a research note on Friday, April 25th. TD Securities increased their price objective on TELUS Digital from $3.75 to $4.00 and gave the company a "hold" rating in a research note on Friday, February 14th. National Bankshares dropped their price target on TELUS Digital from $4.25 to $3.00 and set a "sector perform" rating for the company in a research note on Friday, April 25th. Finally, National Bank Financial raised TELUS Digital from a "sector perform" rating to an "outperform" rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, TELUS Digital presently 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.