1832 Asset Management L.P. Has $4.87 Million Position in TELUS International (Cda) Inc. (NYSE:TIXT)

1832 Asset Management L.P. lessened its stake in shares of TELUS International (Cda) Inc. (NYSE:TIXT) by 34.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 842,046 shares of the company’s stock after selling 443,224 shares during the period. 1832 Asset Management L.P. owned 0.79% of TELUS International (Cda) worth $4,867,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Capital Research Global Investors grew its stake in TELUS International (Cda) by 5.2% in the 4th quarter. Capital Research Global Investors now owns 13,941,858 shares of the company’s stock valued at $119,621,000 after buying an additional 689,468 shares during the last quarter. Forge First Asset Management Inc. bought a new stake in TELUS International (Cda) during the first quarter valued at about $2,758,000. TD Asset Management Inc grew its position in shares of TELUS International (Cda) by 2.1% in the second quarter. TD Asset Management Inc now owns 254,914 shares of the company’s stock valued at $1,472,000 after purchasing an additional 5,351 shares during the last quarter. Swiss National Bank increased its stake in shares of TELUS International (Cda) by 2.1% in the first quarter. Swiss National Bank now owns 149,000 shares of the company’s stock worth $1,261,000 after purchasing an additional 3,000 shares during the period. Finally, Alberta Investment Management Corp lifted its position in shares of TELUS International (Cda) by 948.9% during the 4th quarter. Alberta Investment Management Corp now owns 137,400 shares of the company’s stock worth $1,186,000 after purchasing an additional 124,300 shares during the last quarter. Institutional investors own 59.55% of the company’s stock.

Wall Street Analyst Weigh In

TIXT has been the topic of several recent analyst reports. Cibc World Mkts downgraded TELUS International (Cda) from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Barclays cut their target price on shares of TELUS International (Cda) from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. TD Cowen downgraded shares of TELUS International (Cda) from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $10.00 to $3.75 in a report on Tuesday, August 6th. Scotiabank reduced their target price on shares of TELUS International (Cda) from $10.00 to $5.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Finally, William Blair lowered TELUS International (Cda) from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $7.55.

TELUS International (Cda) Stock Up 4.4 %

Shares of NYSE:TIXT opened at $3.59 on Wednesday. The company’s fifty day moving average is $4.20 and its 200-day moving average is $6.06. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.09 and a current ratio of 1.09. TELUS International has a 52 week low of $2.83 and a 52 week high of $11.51. The company has a market capitalization of $383.52 million, a PE ratio of 23.93, a P/E/G ratio of 1.10 and a beta of 0.68.

TELUS International (Cda) (NYSE:TIXT) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The firm had revenue of $652.00 million during the quarter, compared to analyst estimates of $682.32 million. TELUS International (Cda) had a net margin of 2.70% and a return on equity of 11.66%. TELUS International (Cda)’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 earnings per share. Equities research analysts predict that TELUS International will post 0.44 earnings per share for the current fiscal year.

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.