TELUS Digital (NYSE:TIXT) Sees Strong Trading Volume - Should You Buy?

TELUS Digital (NYSE:TIXT - Get Free Report) shares saw unusually-strong trading volume on Friday . Approximately 535,734 shares were traded during trading, an increase of 15% from the previous session's volume of 466,215 shares.The stock last traded at $3.64 and had previously closed at $3.67.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TIXT shares. BMO Capital Markets decreased their price target on shares of TELUS Digital from $4.50 to $3.00 and set a "market perform" rating on the stock in a research note on Monday, May 12th. CIBC cut their price objective on TELUS Digital from $4.50 to $3.40 and set a "neutral" rating for the company in a report on Friday. Scotiabank cut their price objective on TELUS Digital from $5.00 to $3.00 and set a "sector perform" rating for the company in a report on Tuesday, April 29th. Barclays cut their price objective on TELUS Digital from $5.00 to $3.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. Finally, National Bank Financial raised TELUS Digital from a "sector perform" rating to an "outperform" rating in a report on Friday, May 9th. Two 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's stock. According to MarketBeat.com, TELUS Digital has an average rating of "Hold" and a consensus price target of $4.01.

TELUS Digital Price Performance

The stock has a fifty day moving average of $2.69 and a 200-day moving average of $3.16. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $993.72 million, a P/E ratio of -10.30, a PEG ratio of 4.71 and a beta of 0.80.

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 for the quarter, hitting the consensus estimate of $0.06. The firm had revenue of $647.04 million during the quarter, compared to analysts' expectations of $650.18 million. TELUS Digital had a positive return on equity of 5.73% and a negative net margin of 2.30%. Equities analysts predict 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 added to or reduced their stakes in the company. Mackenzie Financial Corp raised its holdings in TELUS Digital by 31.1% during the 4th quarter. Mackenzie Financial Corp now owns 10,868,451 shares of the company's stock worth $42,673,000 after purchasing an additional 2,578,241 shares during the last quarter. QV Investors Inc. grew its position in shares of TELUS Digital by 0.7% during the 1st quarter. QV Investors Inc. now owns 6,052,635 shares of the company's stock worth $16,233,000 after buying an additional 41,235 shares during the period. Clearbridge Investments LLC grew its position in shares of TELUS Digital by 27.2% during the 4th 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. Scheer Rowlett & Associates Investment Management Ltd. grew its position in shares of TELUS Digital by 1.2% during the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,189,850 shares of the company's stock worth $12,522,000 after buying an additional 38,587 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position 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 buying an additional 1,418,119 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.