TELUS International (Cda) Inc. (NYSE:TIXT) Sees Significant Decline in Short Interest

TELUS International (Cda) Inc. (NYSE:TIXT) saw a significant drop in short interest in December. As of December 31st, there was short interest totalling 2,050,000 shares, a drop of 17.3% from the December 15th total of 2,480,000 shares. Based on an average trading volume of 409,000 shares, the short-interest ratio is currently 5.0 days. Approximately 3.2% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

TIXT has been the topic of several recent analyst reports. Stifel Nicolaus began coverage on TELUS International (Cda) in a research note on Thursday. They issued a “buy” rating and a $5.00 price target on the stock. Desjardins raised TELUS International (Cda) to a “hold” rating in a research report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.20.

TELUS International (Cda) Stock Performance

Shares of NYSE:TIXT traded up $0.30 on Thursday, reaching $3.65. 803,046 shares of the company’s stock were exchanged, compared to its average volume of 597,615. The business’s 50-day moving average is $3.76 and its two-hundred day moving average is $4.10. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.72. TELUS International has a fifty-two week low of $2.83 and a fifty-two week high of $11.51. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of -72.90, a PEG ratio of 1.11 and a beta of 0.67.

TELUS International (Cda) (NYSE:TIXT) last released its quarterly earnings data on Friday, November 8th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. TELUS International (Cda) had a net margin of 1.17% and a return on equity of 9.67%. The firm had revenue of $658.00 million for the quarter, compared to analyst estimates of $650.10 million. During the same quarter in the prior year, the business earned $0.19 earnings per share. As a group, equities research analysts forecast that TELUS International will post 0.43 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp increased its position in TELUS International (Cda) by 5.9% in the second 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. JPMorgan Chase & Co. bought a new position in shares of TELUS International (Cda) during the third quarter worth about $24,223,000. QV Investors Inc. increased its holdings 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 worth $23,496,000 after acquiring an additional 4,804,521 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. lifted its position in TELUS International (Cda) by 5.8% in the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,151,263 shares of the company’s stock valued at $12,301,000 after purchasing an additional 173,477 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. boosted its stake in TELUS International (Cda) by 256.5% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 1,821,074 shares of the company’s stock valued at $7,110,000 after purchasing an additional 1,310,287 shares during the period. Institutional investors and hedge funds 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.