TELUS International (Cda) (NYSE:TIXT) Trading 4% Higher – Here’s Why

TELUS International (Cda) Inc. (NYSE:TIXT)’s share price traded up 4% during trading on Tuesday . The stock traded as high as $3.93 and last traded at $3.92. 734,391 shares were traded during mid-day trading, an increase of 117% from the average session volume of 338,740 shares. The stock had previously closed at $3.77.

Analyst Upgrades and Downgrades

Separately, Desjardins raised shares of TELUS International (Cda) to a “hold” rating in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, TELUS International (Cda) has a consensus rating of “Hold” and an average target price of $7.37.

TELUS International (Cda) Price Performance

The company has a market cap of $1.10 billion, a PE ratio of -80.20, a P/E/G ratio of 1.22 and a beta of 0.70. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.72. The stock has a 50-day simple moving average of $3.80 and a 200 day simple moving average of $4.26.

TELUS International (Cda) (NYSE:TIXT) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The business had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $650.10 million. TELUS International (Cda) had a net margin of 1.17% and a return on equity of 9.67%. During the same period last year, the business earned $0.19 earnings per share. Equities analysts expect that TELUS International will post 0.43 EPS for the current year.

Institutional Investors Weigh In On TELUS International (Cda)

Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. purchased a new position in shares of TELUS International (Cda) in the 3rd quarter valued at about $24,223,000. QV Investors Inc. raised its holdings in TELUS International (Cda) by 398.0% in the third quarter. QV Investors Inc. now owns 6,011,720 shares of the company’s stock valued at $23,496,000 after acquiring an additional 4,804,521 shares in the last quarter. Northwest & Ethical Investments L.P. raised its holdings in TELUS International (Cda) by 256.5% in the third quarter. Northwest & Ethical Investments L.P. now owns 1,821,074 shares of the company’s stock valued at $7,110,000 after acquiring an additional 1,310,287 shares in the last quarter. Jane Street Group LLC purchased a new position in TELUS International (Cda) in the third quarter worth approximately $3,257,000. Finally, Circumference Group LLC acquired a new position in TELUS International (Cda) during the 3rd quarter worth approximately $2,248,000. 59.55% of the stock is owned by hedge funds and other institutional investors.

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.