Nuveen Asset Management LLC Decreases Stock Holdings in TELUS Digital (NYSE:TIXT)

Nuveen Asset Management LLC reduced its stake in shares of TELUS Digital (NYSE:TIXT) by 79.5% in the fourth quarter, HoldingsChannel reports. The firm owned 56,568 shares of the company’s stock after selling 219,532 shares during the period. Nuveen Asset Management LLC’s holdings in TELUS Digital were worth $222,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TIXT. Aquatic Capital Management LLC purchased a new stake in shares of TELUS Digital during the 4th quarter worth $37,000. Two Sigma Securities LLC purchased a new stake in TELUS Digital in the fourth quarter valued at about $42,000. Bayesian Capital Management LP purchased a new stake in TELUS Digital in the fourth quarter valued at about $45,000. PDT Partners LLC purchased a new stake in TELUS Digital in the fourth quarter valued at about $61,000. Finally, Virtu Financial LLC raised its stake in TELUS Digital by 69.3% in the fourth quarter. Virtu Financial LLC now owns 23,202 shares of the company’s stock valued at $91,000 after buying an additional 9,500 shares during the last quarter. 59.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on TIXT. Barclays decreased their price target on TELUS Digital from $5.00 to $3.00 and set an “equal weight” rating for the company in a research note on Friday, April 25th. National Bank Financial upgraded TELUS Digital from a “sector perform” rating to an “outperform” rating in a research note on Friday, May 9th. National Bankshares decreased their price target on TELUS Digital from $4.25 to $3.00 and set a “sector perform” rating for the company in a research note on Friday, April 25th. TD Securities increased their price target on TELUS Digital from $3.75 to $4.00 and gave the company a “hold” rating in a research note on Friday, February 14th. Finally, Scotiabank decreased their price target on TELUS Digital from $5.00 to $3.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 29th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $4.07.

TELUS Digital Stock Up 7.5%

Shares of TIXT stock opened at $2.86 on Friday. The stock’s 50-day simple moving average is $2.62 and its 200-day simple moving average is $3.19. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $788.36 million, a PE ratio of -8.17, a P/E/G ratio of 4.71 and a beta of 0.80. TELUS Digital has a fifty-two week low of $2.13 and a fifty-two week high of $6.86.

TELUS Digital (NYSE:TIXT) last announced its quarterly earnings data on Friday, May 9th. The company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. The business had revenue of $647.04 million for the quarter, compared to analyst estimates of $650.18 million. TELUS Digital had a positive return on equity of 5.73% and a negative net margin of 2.30%. Equities analysts expect that TELUS Digital will post 0.32 earnings per share for the current year.

TELUS Digital 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.