Telus Digital (NYSE:TIXT) Cut to Sector Perform at National Bankshares

Telus Digital (NYSE:TIXT - Get Free Report) was downgraded by research analysts at National Bankshares from an "outperform" rating to a "sector perform" rating in a note issued to investors on Monday,BayStreet.CA reports. They currently have a $4.00 price target on the stock, up from their prior price target of $3.50. National Bankshares' price objective indicates a potential upside of 2.17% from the company's previous close.

TIXT has been the topic of several other research reports. CIBC reduced their price objective on shares of Telus Digital from $4.50 to $3.40 and set a "neutral" rating on the stock in a research note on Friday, June 13th. Wall Street Zen cut shares of Telus Digital from a "buy" rating to a "hold" rating in a research note on Sunday. BMO Capital Markets cut their price objective on Telus Digital from $4.50 to $3.00 and set a "market perform" rating for the company in a research report on Monday, May 12th. Scotiabank upped their price target on shares of Telus Digital from $3.00 to $3.40 and gave the company a "sector perform" rating in a research note on Tuesday, June 17th. Finally, National Bank Financial lowered shares of Telus Digital from an "outperform" rating to a "sector perform" rating and set a $4.00 price target on the stock. in a research report on Monday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $3.88.

Telus Digital Stock Down 2.1%

TIXT traded down $0.09 on Monday, reaching $3.92. 279,324 shares of the company traded hands, compared to its average volume of 516,757. Telus Digital has a 52-week low of $2.13 and a 52-week high of $6.86. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -7.99 and a beta of 0.90. The stock's 50 day moving average price is $3.32 and its 200-day moving average price is $3.14.

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

Institutional Investors Weigh In On Telus Digital

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of Telus Digital by 52.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 241,896 shares of the company's stock valued at $950,000 after buying an additional 83,164 shares in the last quarter. Virtu Financial LLC raised its stake in shares of Telus Digital by 69.3% in the fourth quarter. Virtu Financial LLC now owns 23,202 shares of the company's stock worth $91,000 after purchasing an additional 9,500 shares during the last quarter. Horrell Capital Management Inc. raised its holdings in shares of Telus Digital by 8.7% in the fourth quarter. Horrell Capital Management Inc. now owns 625,000 shares of the company's stock valued at $2,450,000 after purchasing an additional 50,000 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position 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 acquiring an additional 1,418,119 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of Telus Digital by 27.2% in the 4th quarter. Clearbridge Investments LLC now owns 5,606,794 shares of the company's stock worth $21,979,000 after buying an additional 1,198,312 shares during the last quarter. 59.55% of the stock is owned by institutional investors.

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.

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