Telus Digital (NYSE:TIXT) Downgraded by National Bank Financial to "Sector Perform"

National Bank Financial downgraded shares of Telus Digital (NYSE:TIXT - Free Report) from an outperform rating to a sector perform rating in a report issued on Monday morning, Marketbeat.com reports. The brokerage currently has $4.00 target price on the stock.

A number of other research firms have also recently issued reports on TIXT. BMO Capital Markets decreased their price target on shares of Telus Digital from $4.50 to $3.00 and set a "market perform" rating for the company in a report on Monday, May 12th. CIBC reduced their price objective on Telus Digital from $4.50 to $3.40 and set a "neutral" rating for the company in a research note on Friday, June 13th. Scotiabank lifted their price objective on Telus Digital from $3.00 to $3.40 and gave the company a "sector perform" rating in a research note on Tuesday, June 17th. Wall Street Zen cut Telus Digital from a "buy" rating to a "hold" rating in a research report on Sunday. Finally, National Bankshares cut their target price on shares of Telus Digital from $4.25 to $3.00 and set a "sector perform" rating for the company in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Telus Digital presently has a consensus rating of "Hold" and an average price target of $3.88.

Telus Digital Stock Down 0.6%

Shares of NYSE TIXT traded down $0.03 during mid-day trading on Monday, reaching $4.03. 128,096 shares of the company were exchanged, compared to its average volume of 540,078. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -8.21 and a beta of 0.90. The firm has a 50-day moving average of $3.38 and a 200 day moving average of $3.15. Telus Digital has a 1 year low of $2.13 and a 1 year high of $6.86. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70.

Telus Digital (NYSE:TIXT - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The company reported $0.06 EPS for the quarter, meeting the consensus estimate 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 analyst estimates of $650.18 million. On average, research analysts expect that Telus Digital will post 0.32 earnings per share for the current year.

Institutional Investors Weigh In On Telus Digital

Large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Telus Digital by 52.4% in the 4th 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 during the period. Virtu Financial LLC grew its holdings in shares of Telus Digital by 69.3% during the 4th 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 period. Horrell Capital Management Inc. grew its holdings in shares of Telus Digital by 8.7% during the 4th quarter. Horrell Capital Management Inc. now owns 625,000 shares of the company's stock worth $2,450,000 after purchasing an additional 50,000 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Telus Digital by 209.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,095,220 shares of the company's stock worth $8,222,000 after purchasing an additional 1,418,119 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in Telus Digital by 27.2% during the fourth 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 period. 59.55% of the stock is currently owned by hedge funds and other 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.