Telus Digital (NYSE:TIXT) Downgraded to Hold Rating 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 research report issued on Sunday.

TIXT has been the topic of several other reports. CIBC lowered their target price 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. BMO Capital Markets reduced their target price on shares of 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. 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. National Bankshares cut their price target on shares of 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, Scotiabank raised their price target on shares of Telus Digital from $3.00 to $3.40 and gave the stock a "sector perform" rating in a research note on Tuesday, June 17th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $3.78.

Telus Digital Price Performance

NYSE TIXT opened at $4.00 on Friday. The business's fifty day moving average is $3.32 and its two-hundred day moving average is $3.15. The stock has a market capitalization of $1.10 billion, a P/E ratio of -8.16 and a beta of 0.90. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. 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 issued its quarterly earnings results on Friday, May 9th. The company reported $0.06 earnings per share for the quarter, meeting 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 business had revenue of $647.04 million for the quarter, compared to the consensus estimate of $650.18 million. On average, research analysts forecast that Telus Digital will post 0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mackenzie Financial Corp raised its stake in Telus Digital by 31.1% during the fourth quarter. Mackenzie Financial Corp now owns 10,868,451 shares of the company's stock worth $42,673,000 after acquiring an additional 2,578,241 shares in the last quarter. QV Investors Inc. increased its stake in shares of Telus Digital by 0.7% in the first quarter. QV Investors Inc. now owns 6,052,635 shares of the company's stock valued at $16,233,000 after buying an additional 41,235 shares during the period. Clearbridge Investments LLC increased its position in Telus Digital by 27.2% during the 4th 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. Arrowstreet Capital Limited Partnership lifted 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 valued at $8,222,000 after purchasing an additional 1,418,119 shares during the period. Finally, Medina Value Partners LLC acquired a new position in shares of Telus Digital in the 4th quarter valued at about $8,211,000. Institutional investors and hedge funds own 59.55% of the company's stock.

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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