TELUS International (Cda) (NYSE:TIXT) Trading Down 5.8% – Here’s Why

TELUS International (Cda) Inc. (NYSE:TIXT) was down 5.8% during trading on Wednesday . The company traded as low as $2.72 and last traded at $2.69. Approximately 44,258 shares changed hands during trading, a decline of 88% from the average daily volume of 384,651 shares. The stock had previously closed at $2.85.

Analyst Upgrades and Downgrades

Several research analysts have commented on TIXT shares. Stifel Nicolaus started coverage on shares of TELUS International (Cda) in a research note on Thursday, January 16th. They set a “buy” rating and a $5.00 price target on the stock. Stifel Canada upgraded shares of TELUS International (Cda) to a “strong-buy” rating in a research report on Wednesday, January 15th. Finally, TD Securities upped their price target on shares of TELUS International (Cda) from $3.75 to $4.00 and gave the company a “hold” rating in a research report on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, TELUS International (Cda) currently has an average rating of “Hold” and a consensus price target of $7.21.

TELUS International (Cda) Stock Performance

The company has a market cap of $732.88 million, a P/E ratio of -7.61, a P/E/G ratio of 4.71 and a beta of 0.72. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50-day moving average of $3.48 and a two-hundred day moving average of $3.66.

TELUS International (Cda) (NYSE:TIXT) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). The business had revenue of $691.00 million during the quarter, compared to analyst estimates of $672.44 million. TELUS International (Cda) had a positive return on equity of 5.73% and a negative net margin of 2.30%. On average, sell-side analysts predict that TELUS International will post 0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TIXT. Wells Fargo & Company MN increased its position in shares of TELUS International (Cda) by 1.1% in the 4th 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 during the period. Franklin Resources Inc. grew its stake in TELUS International (Cda) by 3.3% during the 4th 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 last quarter. DGS Capital Management LLC increased its holdings in shares of TELUS International (Cda) by 16.4% in the third quarter. DGS Capital Management LLC now owns 36,742 shares of the company’s stock valued at $144,000 after purchasing an additional 5,164 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of TELUS International (Cda) by 18.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 34,862 shares of the company’s stock worth $137,000 after purchasing an additional 5,509 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of TELUS International (Cda) by 27.3% during the fourth quarter. Blue Trust Inc. now owns 28,560 shares of the company’s stock worth $112,000 after purchasing an additional 6,132 shares during the period. Hedge funds and other institutional investors own 59.55% of the company’s stock.

About TELUS International (Cda)

TELUS International (Cda) 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.