TELUS Digital (NYSE:TIXT) Price Target Cut to $3.40 by Analysts at CIBC

TELUS Digital (NYSE:TIXT) had its target price trimmed by CIBC from $4.50 to $3.40 in a research note published on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities analysts have also issued research reports about the company. BMO Capital Markets lowered their target price on TELUS Digital from $4.50 to $3.00 and set a “market perform” rating on the stock in a research note on Monday, May 12th. National Bank Financial upgraded TELUS Digital from a “sector perform” rating to an “outperform” rating in a research note on Friday, May 9th. Scotiabank lowered their target price on TELUS Digital from $5.00 to $3.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 29th. National Bankshares lowered their target price on TELUS Digital from $4.25 to $3.00 and set a “sector perform” rating on the stock in a research note on Friday, April 25th. Finally, TD Securities increased their target price on TELUS Digital from $3.75 to $4.00 and gave the stock a “hold” rating in a research note on Friday, February 14th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, TELUS Digital currently has a consensus rating of “Hold” and a consensus price target of $4.01.

TELUS Digital Price Performance

NYSE:TIXT opened at $3.61 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.72. The stock’s 50 day moving average price is $2.69 and its two-hundred day moving average price is $3.16. The firm has a market capitalization of $993.72 million, a price-to-earnings ratio of -10.30, a P/E/G ratio of 4.71 and a beta of 0.80. TELUS Digital has a 12-month low of $2.13 and a 12-month high of $6.86.

TELUS Digital (NYSE:TIXT) last released its quarterly earnings data on Friday, May 9th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The firm 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%. On average, analysts anticipate that TELUS Digital will post 0.32 earnings per share for the current year.

Institutional Investors Weigh In On TELUS Digital

A number of large investors have recently modified their holdings of TIXT. Mackenzie Financial Corp boosted its holdings in shares of TELUS Digital by 31.1% in the 4th quarter. Mackenzie Financial Corp now owns 10,868,451 shares of the company’s stock valued at $42,673,000 after purchasing an additional 2,578,241 shares in the last quarter. Medina Value Partners LLC acquired a new stake in shares of TELUS Digital in the 4th quarter valued at $8,211,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of TELUS Digital by 209.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,095,220 shares of the company’s stock valued at $8,222,000 after acquiring an additional 1,418,119 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in shares of TELUS Digital by 27.2% during the 4th quarter. Clearbridge Investments LLC now owns 5,606,794 shares of the company’s stock valued at $21,979,000 after acquiring an additional 1,198,312 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of TELUS Digital by 1,347.7% during the 1st quarter. Acadian Asset Management LLC now owns 728,179 shares of the company’s stock valued at $1,942,000 after acquiring an additional 677,879 shares in the last quarter. Institutional investors and hedge funds 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.