Clearbridge Investments LLC Trims Stake in TELUS International (Cda) Inc. (NYSE:TIXT)

Clearbridge Investments LLC trimmed its position in TELUS International (Cda) Inc. (NYSE:TIXT) by 2.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,964,589 shares of the company’s stock after selling 84,045 shares during the quarter. Clearbridge Investments LLC owned 2.78% of TELUS International (Cda) worth $17,135,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TIXT. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in TELUS International (Cda) by 32.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,322 shares of the company’s stock valued at $117,000 after acquiring an additional 4,973 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of TELUS International (Cda) in the 2nd quarter worth approximately $191,000. DORCHESTER WEALTH MANAGEMENT Co raised its stake in shares of TELUS International (Cda) by 12.1% during the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 60,700 shares of the company’s stock worth $514,000 after acquiring an additional 6,560 shares in the last quarter. National Bank of Canada FI lifted its position in TELUS International (Cda) by 971.6% during the second quarter. National Bank of Canada FI now owns 75,443 shares of the company’s stock valued at $441,000 after acquiring an additional 68,403 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in TELUS International (Cda) by 12.4% in the first quarter. Russell Investments Group Ltd. now owns 95,390 shares of the company’s stock worth $809,000 after purchasing an additional 10,501 shares during the last quarter. Institutional investors own 59.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TIXT shares. Royal Bank of Canada downgraded TELUS International (Cda) from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $10.00 to $5.00 in a research note on Monday, August 5th. Robert W. Baird dropped their target price on shares of TELUS International (Cda) from $8.00 to $4.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. CIBC downgraded shares of TELUS International (Cda) from a “sector outperform” rating to a “neutral” rating in a research note on Tuesday, August 6th. TD Cowen lowered TELUS International (Cda) from a “buy” rating to a “hold” rating and reduced their target price for the stock from $10.00 to $3.75 in a research note on Tuesday, August 6th. Finally, TD Securities reiterated a “hold” rating and issued a $3.75 target price (down previously from $10.00) on shares of TELUS International (Cda) in a research report on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, TELUS International (Cda) currently has an average rating of “Hold” and a consensus target price of $7.55.

TELUS International (Cda) Stock Performance

NYSE TIXT opened at $3.75 on Friday. The stock has a market capitalization of $400.08 million, a price-to-earnings ratio of 24.97, a PEG ratio of 1.19 and a beta of 0.69. TELUS International has a twelve month low of $2.83 and a twelve month high of $11.51. The stock has a 50-day moving average of $3.83 and a 200 day moving average of $5.86. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.75.

TELUS International (Cda) (NYSE:TIXT) last issued its quarterly earnings results on Friday, August 2nd. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.03). The company had revenue of $652.00 million during the quarter, compared to analysts’ expectations of $682.32 million. TELUS International (Cda) had a return on equity of 11.66% and a net margin of 2.70%. TELUS International (Cda)’s revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.16 EPS. Sell-side analysts anticipate that TELUS International will post 0.43 EPS for the current fiscal year.

TELUS International (Cda) Profile

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.