Telus Digital (NYSE:TIXT) Stock Rating Lowered by Wall Street Zen

Telus Digital (NYSE:TIXT - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Sunday.

TIXT has been the topic of several other research reports. Barclays reduced their price objective on shares of Telus Digital from $5.00 to $3.00 and set an "equal weight" rating on the stock in a research note on Friday, April 25th. Scotiabank lifted their target price on Telus Digital from $3.00 to $3.40 and gave the company a "sector perform" rating in a research report on Tuesday, June 17th. National Bank Financial raised Telus Digital from a "sector perform" rating to an "outperform" rating in a research report on Friday, May 9th. CIBC cut 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 report on Friday, June 13th. Finally, National Bankshares lowered 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. One investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $3.88.

Telus Digital Price Performance

Telus Digital stock traded up $0.04 during mid-day trading on Friday, hitting $4.04. 619,507 shares of the company were exchanged, compared to its average volume of 520,080. The company has a market capitalization of $1.11 billion, a PE ratio of -8.23 and a beta of 0.90. The business has a fifty 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 announced its earnings results on Friday, May 9th. The company reported $0.06 earnings per share for the quarter, meeting analysts' consensus estimates of $0.06. The company 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 3.40% and a negative net margin of 4.27%. As a group, sell-side analysts expect that Telus Digital will post 0.32 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio raised its holdings in Telus Digital by 18.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 34,862 shares of the company's stock worth $137,000 after buying an additional 5,509 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in 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 buying an additional 1,418,119 shares during the period. Bank of America Corp DE increased its holdings in Telus Digital by 14.3% during the fourth quarter. Bank of America Corp DE now owns 419,723 shares of the company's stock worth $1,645,000 after buying an additional 52,561 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Telus Digital in the fourth quarter worth about $101,000. Finally, Two Sigma Investments LP raised its position in Telus Digital by 578.8% in the fourth quarter. Two Sigma Investments LP now owns 497,821 shares of the company's stock worth $1,951,000 after acquiring an additional 424,484 shares during the period. 59.55% of the stock is owned by institutional investors.

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.