TELUS Digital (NYSE:TIXT) Price Target Lowered to $3.40 at CIBC

TELUS Digital (NYSE:TIXT - Get Free Report) had its price target decreased by research analysts at CIBC from $4.50 to $3.40 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. CIBC's price target indicates a potential downside of 5.69% from the stock's previous close.

A number of other equities research analysts also recently weighed in on the stock. TD Securities raised their price target on shares of TELUS Digital from $3.75 to $4.00 and gave the company a "hold" rating in a research note on Friday, February 14th. Scotiabank dropped their price objective on shares of TELUS Digital from $5.00 to $3.00 and set a "sector perform" rating for the company in a report on Tuesday, April 29th. BMO Capital Markets reduced their target price on shares of TELUS Digital from $4.50 to $3.00 and set a "market perform" rating on the stock in a report on Monday, May 12th. National Bank Financial raised shares of TELUS Digital from a "sector perform" rating to an "outperform" rating in a report on Friday, May 9th. Finally, National Bankshares reduced their target price on shares of TELUS Digital from $4.25 to $3.00 and set a "sector perform" rating on the stock in a report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $4.01.

TELUS Digital Price Performance

TELUS Digital stock traded down $0.07 during trading hours on Friday, reaching $3.61. 2,118,474 shares of the stock were exchanged, compared to its average volume of 474,732. The company has a market cap of $993.72 million, a P/E ratio of -10.30, a price-to-earnings-growth ratio of 4.71 and a beta of 0.80. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.72. TELUS Digital has a twelve month low of $2.13 and a twelve month high of $6.86. The stock has a 50 day moving average of $2.69 and a two-hundred day moving average of $3.16.

TELUS Digital (NYSE:TIXT - Get Free Report) last announced its quarterly earnings data 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 negative net margin of 2.30% and a positive return on equity of 5.73%. The firm had revenue of $647.04 million for the quarter, compared to the consensus estimate of $650.18 million. Equities analysts expect that TELUS Digital will post 0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised its holdings in TELUS Digital by 1,347.7% during the 1st quarter. Acadian Asset Management LLC now owns 728,179 shares of the company's stock worth $1,942,000 after purchasing an additional 677,879 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in TELUS Digital by 73.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 541,635 shares of the company's stock worth $1,457,000 after purchasing an additional 229,369 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in TELUS Digital during the 1st quarter worth approximately $58,000. Circumference Group LLC raised its holdings in TELUS Digital by 8.0% during the 1st quarter. Circumference Group LLC now owns 675,000 shares of the company's stock worth $1,816,000 after purchasing an additional 50,000 shares during the last quarter. Finally, PDT Partners LLC raised its holdings in TELUS Digital by 79.9% during the 1st quarter. PDT Partners LLC now owns 28,058 shares of the company's stock worth $75,000 after purchasing an additional 12,458 shares during the last quarter. Institutional investors own 59.55% of the company's stock.

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.