TELUS Digital (NYSE:TIXT) Upgraded to “Outperform” at National Bank Financial

TELUS Digital (NYSE:TIXT) was upgraded by equities research analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating in a research report issued on Friday, MarketBeat reports.

Other analysts have also recently issued reports about the company. Scotiabank decreased their price objective on TELUS Digital from $5.00 to $3.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 29th. Stifel Nicolaus started coverage on shares of TELUS Digital in a research note on Thursday, January 16th. They set a “buy” rating and a $5.00 price objective for the company. Stifel Canada upgraded TELUS Digital to a “strong-buy” rating in a research note on Wednesday, January 15th. National Bankshares decreased their price objective on shares of TELUS Digital from $4.25 to $3.00 and set a “sector perform” rating for the company in a research report on Friday, April 25th. Finally, TD Securities raised their target price on TELUS Digital from $3.75 to $4.00 and gave the company a “hold” rating in a research report on Friday, February 14th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $4.23.

TELUS Digital Stock Up 10.1%

TIXT stock traded up $0.28 during midday trading on Friday, reaching $2.99. 327,962 shares of the company’s stock traded hands, compared to its average volume of 396,044. 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 firm’s fifty day moving average price is $2.59 and its 200-day moving average price is $3.31. The company has a market cap of $822.82 million, a price-to-earnings ratio of -8.53, a P/E/G ratio of 4.71 and a beta of 0.72. TELUS Digital has a 52 week low of $2.13 and a 52 week high of $6.86.

TELUS Digital (NYSE:TIXT) last posted its earnings results on Friday, May 9th. The company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. The company had revenue of $647.04 million during the quarter, compared to analyst estimates of $650.18 million. TELUS Digital had a negative net margin of 2.30% and a positive return on equity of 5.73%. As a group, sell-side analysts forecast that TELUS Digital will post 0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TELUS Digital

Several institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC grew its stake in TELUS Digital by 118.8% in the 3rd quarter. Barclays PLC now owns 30,629 shares of the company’s stock worth $120,000 after acquiring an additional 16,629 shares during the period. Virtu Financial LLC bought a new position in TELUS Digital during the 3rd quarter valued at $54,000. PFW Advisors LLC acquired a new position in TELUS Digital in the fourth quarter valued at approximately $67,000. DGS Capital Management LLC lifted its position in TELUS Digital by 213.5% in the 4th quarter. DGS Capital Management LLC now owns 115,202 shares of the company’s stock valued at $452,000 after purchasing an additional 78,460 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of TELUS Digital by 62.0% during the fourth quarter. Blue Trust Inc. now owns 36,332 shares of the company’s stock valued at $142,000 after purchasing an additional 13,904 shares during the period. 59.55% of the stock is currently owned by hedge funds and other institutional investors.

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.