TELUS Digital (NYSE:TIXT) Given New $3.40 Price Target at Scotiabank

TELUS Digital (NYSE:TIXT - Get Free Report) had its price target upped by stock analysts at Scotiabank from $3.00 to $3.40 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Scotiabank's price target suggests a potential downside of 5.69% from the stock's previous close.

Several other research firms have also recently issued reports on TIXT. National Bankshares cut their target price on TELUS Digital from $4.25 to $3.00 and set a "sector perform" rating for the company in a research report on Friday, April 25th. CIBC dropped their target price on shares of TELUS Digital from $4.50 to $3.40 and set a "neutral" rating for the company in a research report on Friday. National Bank Financial upgraded shares of TELUS Digital from a "sector perform" rating to an "outperform" rating in a report on Friday, May 9th. BMO Capital Markets lowered 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. Finally, Barclays lowered 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. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $4.05.

TELUS Digital Stock Performance

Shares of NYSE TIXT traded down $0.03 during midday trading on Tuesday, hitting $3.61. 435,540 shares of the stock traded hands, compared to its average volume of 477,316. The firm has a market capitalization of $993.72 million, a P/E ratio of -10.33, a PEG ratio of 4.71 and a beta of 0.80. TELUS Digital has a one year low of $2.13 and a one year high of $6.86. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a 50-day moving average of $2.72 and a two-hundred day moving average of $3.16.

TELUS Digital (NYSE:TIXT - Get Free Report) last announced its earnings results on Friday, May 9th. The company reported $0.06 EPS for the quarter, hitting analysts' consensus estimates of $0.06. TELUS Digital had a positive return on equity of 5.73% and a negative net margin of 2.30%. The company had revenue of $647.04 million for the quarter, compared to analysts' expectations of $650.18 million. On average, equities analysts forecast that TELUS Digital will post 0.32 EPS for the current fiscal year.

Institutional Trading of TELUS Digital

Several institutional investors and hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp lifted its position in TELUS Digital by 31.1% during the fourth quarter. Mackenzie Financial Corp now owns 10,868,451 shares of the company's stock valued at $42,673,000 after purchasing an additional 2,578,241 shares during the period. Medina Value Partners LLC acquired a new position in shares of TELUS Digital in the 4th quarter valued at about $8,211,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of TELUS Digital by 209.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,095,220 shares of the company's stock worth $8,222,000 after buying an additional 1,418,119 shares during the last quarter. Clearbridge Investments LLC grew its holdings 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 acquiring an additional 1,198,312 shares during the period. Finally, Acadian Asset Management LLC raised its position in TELUS Digital by 1,347.7% during the first quarter. Acadian Asset Management LLC now owns 728,179 shares of the company's stock valued at $1,942,000 after acquiring an additional 677,879 shares in the last quarter. 59.55% of the stock is currently owned by institutional investors and hedge funds.

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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