TELUS International (Cda) Inc. (NYSE:TIXT) Short Interest Update

TELUS International (Cda) Inc. (NYSE:TIXT) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 1,900,000 shares, a drop of 18.5% from the October 15th total of 2,330,000 shares. Currently, 3.0% of the company’s stock are short sold. Based on an average daily trading volume, of 443,000 shares, the short-interest ratio is currently 4.3 days.

Hedge Funds Weigh In On TELUS International (Cda)

A number of institutional investors and hedge funds have recently made changes to their positions in TIXT. QV Investors Inc. boosted its holdings in TELUS International (Cda) by 398.0% during the third quarter. QV Investors Inc. now owns 6,011,720 shares of the company’s stock worth $23,496,000 after buying an additional 4,804,521 shares in the last quarter. Northwest & Ethical Investments L.P. lifted its position in shares of TELUS International (Cda) by 256.5% during the 3rd 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 during the period. Jane Street Group LLC acquired a new stake in shares of TELUS International (Cda) in the 3rd quarter worth approximately $3,257,000. Horrell Capital Management Inc. acquired a new stake in shares of TELUS International (Cda) in the 3rd quarter worth approximately $2,248,000. Finally, Circumference Group LLC purchased a new position in TELUS International (Cda) in the 3rd quarter valued at approximately $2,248,000. 59.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TIXT. Barclays decreased their target price on TELUS International (Cda) from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. CIBC downgraded TELUS International (Cda) from a “sector outperform” rating to a “neutral” rating in a report on Tuesday, August 6th. BMO Capital Markets cut their target price on shares of TELUS International (Cda) from $7.50 to $4.75 and set a “market perform” rating on the stock in a report on Monday, August 5th. TD Securities reiterated a “hold” rating and issued a $3.75 price target (down previously from $10.00) on shares of TELUS International (Cda) in a research report on Tuesday, August 6th. Finally, Bank of America downgraded shares of TELUS International (Cda) from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $11.00 to $4.00 in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.37.

TELUS International (Cda) Stock Down 6.5 %

NYSE TIXT traded down $0.25 on Friday, hitting $3.62. 331,061 shares of the company’s stock were exchanged, compared to its average volume of 413,283. The firm’s 50-day moving average price is $3.75 and its two-hundred day moving average price is $4.86. TELUS International has a fifty-two week low of $2.83 and a fifty-two week high of $11.51. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.09 and a current ratio of 1.02.

TELUS International (Cda) (NYSE:TIXT) last posted 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 firm had revenue of $658.00 million for the quarter, compared to the consensus estimate of $650.10 million. TELUS International (Cda) had a return on equity of 9.67% and a net margin of 1.17%. During the same period in the previous year, the business earned $0.19 earnings per share. On average, sell-side analysts anticipate that TELUS International will post 0.43 earnings per share for the current 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.