TELUS Digital (NYSE:TIXT) Stock Price Up 7.7% - What's Next?

TELUS Digital (NYSE:TIXT - Get Free Report) shares traded up 7.7% during trading on Friday . The company traded as high as $2.79 and last traded at $2.86. 191,233 shares were traded during trading, a decline of 53% from the average session volume of 406,053 shares. The stock had previously closed at $2.66.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Scotiabank reduced their price target on shares of TELUS Digital from $5.00 to $3.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 29th. BMO Capital Markets cut their price target on shares of TELUS Digital from $4.50 to $3.00 and set a "market perform" rating for the company in a report on Monday, May 12th. Barclays decreased their target price 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. TD Securities lifted their target price on shares of TELUS Digital from $3.75 to $4.00 and gave the stock a "hold" rating in a research report on Friday, February 14th. Finally, National Bank Financial upgraded TELUS Digital from a "sector perform" rating to an "outperform" rating in a research report on Friday, May 9th. Two 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $4.07.

TELUS Digital Price Performance

The company has a market capitalization of $800.76 million, a PE ratio of -8.36, a PEG ratio of 4.71 and a beta of 0.80. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.72. The company's 50 day moving average price is $2.61 and its 200-day moving average price is $3.19.

TELUS Digital (NYSE:TIXT - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. The company had revenue of $647.04 million during the quarter, compared to the consensus estimate of $650.18 million. TELUS Digital had a negative net margin of 2.30% and a positive return on equity of 5.73%. On average, sell-side analysts forecast that TELUS Digital will post 0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TELUS Digital

A number of hedge funds have recently bought and sold shares of TIXT. Arrowstreet Capital Limited Partnership boosted its stake 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 buying an additional 1,418,119 shares during the last quarter. Public Employees Retirement System of Ohio raised 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 acquiring an additional 5,509 shares in the last quarter. Bank of America Corp DE boosted its stake in 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. Two Sigma Investments LP grew its holdings in TELUS Digital by 578.8% during the 4th quarter. Two Sigma Investments LP now owns 497,821 shares of the company's stock worth $1,951,000 after acquiring an additional 424,484 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in TELUS Digital during the 4th quarter worth $101,000. Institutional investors and hedge funds own 59.55% of the company's stock.

TELUS Digital Company Profile

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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