TELUS International (Cda) Inc. (NYSE:TIXT) Short Interest Update

TELUS International (Cda) Inc. (NYSE:TIXT) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 1,900,000 shares, a decrease of 18.5% from the October 15th total of 2,330,000 shares. Based on an average trading volume of 443,000 shares, the short-interest ratio is presently 4.3 days. Approximately 3.0% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several research firms have recently commented on TIXT. Cibc World Mkts lowered shares of TELUS International (Cda) from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. BMO Capital Markets lowered their target price on TELUS International (Cda) from $7.50 to $4.75 and set a “market perform” rating for the company in a report on Monday, August 5th. Scotiabank cut their price target on TELUS International (Cda) from $10.00 to $5.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. CIBC downgraded TELUS International (Cda) from a “sector outperform” rating to a “neutral” rating in a research note on Tuesday, August 6th. Finally, Robert W. Baird dropped their target price on TELUS International (Cda) from $8.00 to $4.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, TELUS International (Cda) has an average rating of “Hold” and an average price target of $7.37.

Institutional Trading of TELUS International (Cda)

Several institutional investors and hedge funds have recently added to or reduced their stakes in TIXT. Forge First Asset Management Inc. bought a new position in shares of TELUS International (Cda) in the first quarter valued at $2,758,000. QV Investors Inc. boosted its position in shares of TELUS International (Cda) by 398.0% in the 3rd quarter. QV Investors Inc. now owns 6,011,720 shares of the company’s stock valued at $23,496,000 after purchasing an additional 4,804,521 shares during the period. Horrell Capital Management Inc. purchased a new position in TELUS International (Cda) in the 3rd quarter worth about $2,248,000. Mackenzie Financial Corp raised its holdings in TELUS International (Cda) by 5.9% during the 2nd quarter. Mackenzie Financial Corp now owns 8,440,050 shares of the company’s stock worth $48,744,000 after buying an additional 472,103 shares during the period. Finally, Swiss National Bank lifted its stake in TELUS International (Cda) by 2.1% during the first quarter. Swiss National Bank now owns 149,000 shares of the company’s stock valued at $1,261,000 after buying an additional 3,000 shares in the last quarter. 59.55% of the stock is owned by institutional investors and hedge funds.

TELUS International (Cda) Price Performance

TIXT traded down $0.25 during trading on Friday, reaching $3.62. The stock had a trading volume of 331,061 shares, compared to its average volume of 331,515. TELUS International has a 1-year low of $2.83 and a 1-year high of $11.51. The firm has a market capitalization of $386.72 million, a price-to-earnings ratio of -72.40, a price-to-earnings-growth ratio of 1.20 and a beta of 0.68. The stock has a 50 day moving average of $3.75 and a two-hundred day moving average of $4.88. The company has a quick ratio of 1.09, a current ratio of 1.02 and a debt-to-equity ratio of 0.72.

TELUS International (Cda) (NYSE:TIXT) last announced its earnings results on Friday, November 8th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.03. TELUS International (Cda) had a return on equity of 9.67% and a net margin of 1.17%. The business had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $650.10 million. During the same quarter last year, the business posted $0.19 earnings per share. As a group, equities analysts anticipate that TELUS International will post 0.44 EPS for the current fiscal year.

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.