Cubist Systematic Strategies LLC Decreases Stock Position in TELUS International (Cda) Inc. (NYSE:TIXT)

Cubist Systematic Strategies LLC cut its stake in TELUS International (Cda) Inc. (NYSE:TIXT) by 14.3% in the second quarter, Holdings Channel reports. The institutional investor owned 19,324 shares of the company’s stock after selling 3,224 shares during the period. Cubist Systematic Strategies LLC’s holdings in TELUS International (Cda) were worth $112,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Forge First Asset Management Inc. bought a new stake in shares of TELUS International (Cda) in the 1st quarter worth about $2,758,000. Mackenzie Financial Corp lifted its stake in TELUS International (Cda) by 5.9% in the second quarter. Mackenzie Financial Corp now owns 8,440,050 shares of the company’s stock worth $48,744,000 after purchasing an additional 472,103 shares during the last quarter. Swiss National Bank boosted its position in shares of TELUS International (Cda) by 2.1% during 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 period. Russell Investments Group Ltd. boosted its position in shares of TELUS International (Cda) by 12.4% during 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 period. Finally, National Bank of Canada FI grew its stake in shares of 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 buying an additional 68,403 shares during the last quarter. 59.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TIXT has been the subject of a number of recent analyst reports. Barclays dropped their price objective on TELUS International (Cda) from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Scotiabank cut their price target on shares of TELUS International (Cda) from $10.00 to $5.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. lowered shares of TELUS International (Cda) from a “neutral” rating to an “underweight” rating and set a $7.00 price objective for the company. in a report on Wednesday, July 17th. Royal Bank of Canada downgraded shares of 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. Finally, Desjardins raised shares of TELUS International (Cda) to a “hold” rating in a research report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.55.

TELUS International (Cda) Stock Down 3.1 %

Shares of NYSE TIXT opened at $3.79 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $404.89 million, a PE ratio of 25.27, a price-to-earnings-growth ratio of 1.17 and a beta of 0.69. TELUS International has a 12-month low of $2.83 and a 12-month high of $11.51. The stock’s fifty day simple moving average is $3.57 and its two-hundred day simple moving average is $5.56.

TELUS International (Cda) (NYSE:TIXT) last announced its 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). TELUS International (Cda) had a return on equity of 11.66% and a net margin of 2.70%. The firm had revenue of $652.00 million during the quarter, compared to the consensus estimate of $682.32 million. During the same quarter in the prior year, the firm posted $0.16 earnings per share. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, analysts expect that TELUS International will post 0.43 EPS 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.