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Telus Digital (NYSE:TIXT) Shares Gap Down - Here's Why

Telus Digital logo with Computer and Technology background

Shares of Telus Digital (NYSE:TIXT - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $4.00, but opened at $3.88. Telus Digital shares last traded at $3.99, with a volume of 65,428 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TIXT shares. Wall Street Zen downgraded Telus Digital from a "buy" rating to a "hold" rating in a report on Sunday. CIBC cut their price target on Telus Digital from $4.50 to $3.40 and set a "neutral" rating on the stock in a report on Friday, June 13th. National Bank Financial downgraded Telus Digital from an "outperform" rating to a "sector perform" rating and set a $4.00 price target on the stock. in a report on Monday. National Bankshares cut their price target on Telus Digital from $4.25 to $3.00 and set a "sector perform" rating on the stock in a report on Friday, April 25th. Finally, BMO Capital Markets cut their price target on Telus Digital from $4.50 to $3.00 and set a "market perform" rating on the stock in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Telus Digital presently has an average rating of "Hold" and a consensus target price of $3.80.

Read Our Latest Report on Telus Digital

Telus Digital Price Performance

The company has a 50 day simple moving average of $3.32 and a 200-day simple moving average of $3.14. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -8.01 and a beta of 0.90. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70.

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, meeting the consensus estimate of $0.06. The firm had revenue of $647.04 million for the quarter, compared to analysts' expectations of $650.18 million. Telus Digital had a positive return on equity of 3.40% and a negative net margin of 4.27%. As a group, research analysts anticipate that Telus Digital will post 0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Telus Digital

A number of institutional investors have recently added to or reduced their stakes in TIXT. Public Employees Retirement System of Ohio lifted its position in shares of Telus Digital by 18.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 34,862 shares of the company's stock valued at $137,000 after acquiring an additional 5,509 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted 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 valued at $8,222,000 after acquiring an additional 1,418,119 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Telus Digital by 14.3% during the 4th quarter. Bank of America Corp DE now owns 419,723 shares of the company's stock valued at $1,645,000 after acquiring an additional 52,561 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Telus Digital during the 4th quarter valued at $101,000. Finally, Two Sigma Investments LP lifted its holdings in shares of Telus Digital by 578.8% in the fourth quarter. Two Sigma Investments LP now owns 497,821 shares of the company's stock valued at $1,951,000 after purchasing an additional 424,484 shares in the last quarter. 59.55% of the stock is currently owned by institutional investors and hedge funds.

About Telus Digital

(Get Free Report)

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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