Telus Digital (NYSE:TIXT) Raised to Hold at Wall Street Zen

Telus Digital (NYSE:TIXT) was upgraded by stock analysts at Wall Street Zen to a “hold” rating in a research note issued to investors on Saturday.

A number of other research analysts have also weighed in on TIXT. Stifel Canada lowered shares of Telus Digital from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. CIBC lowered shares of Telus Digital from a “neutral” rating to a “tender” rating and raised their price target for the company from $3.40 to $4.50 in a research report on Wednesday, September 3rd. National Bank Financial lowered shares of Telus Digital from an “outperform” rating to a “sector perform” rating and set a $4.00 price target on the stock. in a research report on Monday, July 21st. Morgan Stanley lowered their price objective on shares of Telus Digital from $3.49 to $3.40 and set an “equal weight” rating on the stock in a research report on Monday, August 4th. Finally, Stifel Nicolaus lowered shares of Telus Digital from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $4.00 to $4.50 in a research report on Wednesday, September 3rd. Eight equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Telus Digital currently has an average rating of “Reduce” and an average target price of $3.93.

Telus Digital Stock Down 0.6%

Shares of NYSE TIXT opened at $4.33 on Friday. The stock has a market capitalization of $1.20 billion, a P/E ratio of -3.12 and a beta of 0.94. The company has a 50-day moving average price of $4.39 and a 200-day moving average price of $3.69. Telus Digital has a 1 year low of $2.13 and a 1 year high of $4.60. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.84 and a quick ratio of 0.84.

Telus Digital (NYSE:TIXT) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $711.33 million during the quarter, compared to analysts’ expectations of $660.87 million. Telus Digital had a negative net margin of 14.09% and a positive return on equity of 1.99%. On average, equities research analysts forecast that Telus Digital will post 0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Telus Digital

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Scoggin Management LP purchased a new position in Telus Digital in the 2nd quarter worth approximately $2,011,000. Moore Capital Management LP bought a new stake in shares of Telus Digital in the 2nd quarter worth approximately $508,000. LMR Partners LLP bought a new stake in shares of Telus Digital in the 2nd quarter worth approximately $1,089,000. BNP Paribas Financial Markets lifted its holdings in shares of Telus Digital by 141.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 73,778 shares of the company’s stock worth $268,000 after acquiring an additional 43,184 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Telus Digital by 2,799.1% in the 2nd quarter. Jane Street Group LLC now owns 329,371 shares of the company’s stock worth $1,196,000 after acquiring an additional 318,010 shares during the last quarter. Hedge funds and other institutional investors own 59.55% of the company’s stock.

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.