Telus Digital (NYSE:TIXT) Sees Large Volume Increase - Here's What Happened

Key Points

• Telus Digital experienced a significant trading volume increase of 128%, with 1,733,884 shares traded, reflecting heightened investor interest.
• Wall Street analysts have downgraded Telus Digital's stock rating, with the consensus rating now at "Hold" and an average target price of $3.93.
• Despite a 0.6% decline in stock price to $4.48, Telus Digital recently reported earnings that exceeded analyst expectations, with a revenue of $711.33 million for the quarter.

Telus Digital (NYSE:TIXT - Get Free Report) saw unusually-high trading volume on Friday . Approximately 1,733,884 shares traded hands during mid-day trading, an increase of 128% from the previous session's volume of 760,083 shares.The stock last traded at $4.48 and had previously closed at $4.50.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TIXT shares. Stifel Nicolaus lowered Telus Digital from a "buy" rating to a "hold" rating and upped their target price for the company from $4.00 to $4.50 in a research note on Wednesday, September 3rd. National Bankshares downgraded shares of Telus Digital from a "sector perform" rating to a "tender" rating and boosted their target price for the company from $4.00 to $4.50 in a research note on Wednesday, September 3rd. CIBC downgraded Telus Digital from a "neutral" rating to a "tender" rating and lifted their price objective for the company from $3.40 to $4.50 in a research report on Wednesday, September 3rd. National Bank Financial lowered Telus Digital from an "outperform" rating to a "sector perform" rating and set a $4.00 price target on the stock. in a research note on Monday, July 21st. Finally, Stifel Canada downgraded shares of Telus Digital from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. Nine analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $3.93.

Telus Digital Trading Up 0.1%

The firm has a fifty day moving average of $3.99 and a 200 day moving average of $3.26. The firm has a market capitalization of $1.25 billion, a PE ratio of -3.23 and a beta of 0.91. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.84 and a current ratio of 0.84.

Telus Digital (NYSE:TIXT - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.01. The company had revenue of $711.33 million for the quarter, compared to analyst estimates of $660.87 million. Telus Digital had a negative net margin of 14.09% and a positive return on equity of 1.99%. Telus Digital has set its FY 2025 guidance at 0.320-0.320 EPS. Equities research analysts expect that Telus Digital will post 0.32 EPS for the current year.

Institutional Trading of Telus Digital

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets acquired a new stake in Telus Digital during the 4th quarter valued at approximately $101,000. Bank of America Corp DE grew its position in shares of 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 in the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of Telus Digital by 365.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 739,609 shares of the company's stock worth $2,904,000 after buying an additional 580,726 shares during the last quarter. Deutsche Bank AG bought a new position in Telus Digital during the 4th quarter valued at $246,000. Finally, Graham Capital Management L.P. acquired a new position in Telus Digital during the 4th quarter worth $168,000. 59.55% of the stock is owned by hedge funds and other 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.