CIBC Asset Management Inc Reduces Stock Holdings in TELUS International (Cda) Inc. (NYSE:TIXT)

CIBC Asset Management Inc reduced its position in TELUS International (Cda) Inc. (NYSE:TIXT) by 94.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,000 shares of the company’s stock after selling 639,018 shares during the period. CIBC Asset Management Inc’s holdings in TELUS International (Cda) were worth $219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Clearbridge Investments LLC acquired a new position in TELUS International (Cda) during the fourth quarter worth $26,554,000. Forge First Asset Management Inc. acquired a new stake in shares of TELUS International (Cda) in the first quarter valued at about $2,758,000. Swiss National Bank raised its position 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 valued at $1,261,000 after buying an additional 3,000 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of TELUS International (Cda) by 12.4% in the first quarter. Russell Investments Group Ltd. now owns 95,390 shares of the company’s stock valued at $809,000 after buying an additional 10,501 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in shares of TELUS International (Cda) by 23.9% in the fourth quarter. 1832 Asset Management L.P. now owns 1,220,700 shares of the company’s stock valued at $10,474,000 after buying an additional 235,500 shares during the last quarter. 59.55% of the stock is currently owned by institutional investors and hedge funds.

TELUS International (Cda) Trading Down 1.1 %

Shares of TIXT stock opened at $3.63 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $387.79 million, a PE ratio of 24.20, a price-to-earnings-growth ratio of 1.17 and a beta of 0.68. The company has a 50-day moving average of $4.73 and a two-hundred day moving average of $6.57. TELUS International has a 1-year low of $2.83 and a 1-year high of $11.51.

TELUS International (Cda) (NYSE:TIXT) last announced its earnings results on Friday, August 2nd. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.03). The company had revenue of $652.00 million for 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%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the business earned $0.16 EPS. On average, analysts predict that TELUS International will post 0.44 EPS for the current year.

Analyst Upgrades and Downgrades

TIXT has been the subject of a number of recent research reports. BMO Capital Markets reduced their target price on shares of TELUS International (Cda) from $7.50 to $4.75 and set a “market perform” rating for the company in a research report on Monday, August 5th. 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 report on Wednesday, August 7th. TD Cowen lowered shares of TELUS International (Cda) from a “buy” rating to a “hold” rating and dropped their price objective for the company from $10.00 to $3.75 in a report on Tuesday, August 6th. Cibc World Mkts lowered shares of TELUS International (Cda) from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, William Blair lowered shares of TELUS International (Cda) from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, TELUS International (Cda) currently has a consensus rating of “Hold” and an average target price of $7.55.

TELUS International (Cda) Company 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.