Telus Digital (NYSE:TIXT) Stock Price Up 2.6% - Time to Buy?

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on TIXT shares. CIBC cut their price objective on Telus Digital from $4.50 to $3.40 and set a "neutral" rating on the stock in a research report on Friday, June 13th. National Bank Financial raised Telus Digital from a "sector perform" rating to an "outperform" rating in a research report on Friday, May 9th. Barclays cut their price objective on Telus Digital from $5.00 to $3.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. BMO Capital Markets cut their price objective on Telus Digital from $4.50 to $3.00 and set a "market perform" rating on the stock in a research report on Monday, May 12th. Finally, National Bankshares cut their price objective on Telus Digital from $4.25 to $3.00 and set a "sector perform" rating on the stock in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $4.05.

Telus Digital Stock Performance

The stock has a market capitalization of $1.07 billion, a PE ratio of -7.91, a PEG ratio of 2.22 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. The firm has a 50 day moving average price of $3.14 and a 200-day moving average price of $3.15.

Telus Digital (NYSE:TIXT - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. The company 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 3.40% and a negative net margin of 4.27%. Research analysts expect that Telus Digital will post 0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN raised its position in Telus Digital by 1.1% during the fourth quarter. Wells Fargo & Company MN now owns 316,626 shares of the company's stock valued at $1,244,000 after acquiring an additional 3,397 shares in the last quarter. Franklin Resources Inc. grew its holdings in Telus Digital by 3.3% in the fourth quarter. Franklin Resources Inc. now owns 113,690 shares of the company's stock valued at $446,000 after purchasing an additional 3,667 shares during the period. Public Employees Retirement System of Ohio grew its holdings in Telus Digital by 18.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 34,862 shares of the company's stock valued at $137,000 after purchasing an additional 5,509 shares during the period. Aquatic Capital Management LLC acquired a new stake in Telus Digital in the fourth quarter valued at approximately $37,000. Finally, Virtu Financial LLC grew its holdings in Telus Digital by 69.3% in the fourth quarter. Virtu Financial LLC now owns 23,202 shares of the company's stock valued at $91,000 after purchasing an additional 9,500 shares during the period. 59.55% of the stock is currently 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.