Telus Digital (NYSE:TIXT) Shares Up 2.6% - Here's Why

Telus Digital (NYSE:TIXT - Get Free Report)'s share price rose 2.6% on Tuesday . The company traded as high as $3.97 and last traded at $3.89. Approximately 920,394 shares were traded during trading, an increase of 83% from the average daily volume of 502,295 shares. The stock had previously closed at $3.79.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. National Bankshares decreased their price target on shares of Telus Digital from $4.25 to $3.00 and set a "sector perform" rating for the company in a report on Friday, April 25th. Wall Street Zen upgraded Telus Digital from a "hold" rating to a "buy" rating in a research note on Saturday. Barclays lowered their target price on Telus Digital from $5.00 to $3.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. CIBC cut their price target on Telus Digital from $4.50 to $3.40 and set a "neutral" rating for the company in a report on Friday, June 13th. Finally, National Bank Financial upgraded shares of Telus Digital from a "sector perform" rating to an "outperform" rating in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Telus Digital has an average rating of "Hold" and an average target price of $4.05.

Telus Digital Stock Down 3.6%

The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $1.03 billion, a P/E ratio of 16.30, a price-to-earnings-growth ratio of 2.15 and a beta of 0.90. The firm has a 50 day moving average of $3.19 and a 200-day moving average of $3.15.

Telus Digital (NYSE:TIXT - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. Telus Digital had a positive return on equity of 3.40% and a negative net margin of 4.27%. The firm had revenue of $647.04 million for the quarter, compared to analyst estimates of $650.18 million. On average, equities research analysts expect that Telus Digital will post 0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Telus Digital

Several large investors have recently modified their holdings of TIXT. Mackenzie Financial Corp grew its position 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 acquiring an additional 2,578,241 shares during the last quarter. Medina Value Partners LLC bought a new stake in Telus Digital during the 4th quarter worth approximately $8,211,000. Arrowstreet Capital Limited Partnership grew its position in 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 acquiring an additional 1,418,119 shares during the last quarter. Clearbridge Investments LLC grew its position in 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 acquiring an additional 1,198,312 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position 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 acquiring an additional 677,879 shares during the last quarter. 59.55% of the stock is currently 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.