Short Interest in TELUS International (Cda) Inc. (NYSE:TIXT) Declines By 18.5%

TELUS International (Cda) Inc. (NYSE:TIXT) was the target of a significant drop in short interest in 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. Approximately 3.0% of the company’s stock are sold short. Based on an average daily trading volume, of 443,000 shares, the short-interest ratio is presently 4.3 days.

Institutional Investors Weigh In On TELUS International (Cda)

Several institutional investors and hedge funds have recently bought and sold shares of the business. Walleye Capital LLC acquired a new stake in TELUS International (Cda) in the 3rd quarter valued at $60,000. Blue Trust Inc. boosted its stake in shares of TELUS International (Cda) by 15.1% in the 3rd quarter. Blue Trust Inc. now owns 22,428 shares of the company’s stock valued at $88,000 after purchasing an additional 2,948 shares in the last quarter. Orion Portfolio Solutions LLC bought a new stake in shares of TELUS International (Cda) in the 3rd quarter worth about $96,000. Centiva Capital LP acquired a new stake in shares of TELUS International (Cda) during the 3rd quarter worth about $103,000. Finally, Public Employees Retirement System of Ohio bought a new position in TELUS International (Cda) during the 3rd quarter valued at about $115,000. Institutional investors own 59.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TIXT shares. Royal Bank of Canada downgraded shares of TELUS International (Cda) from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $10.00 to $5.00 in a research report on Monday, August 5th. TD Securities reiterated a “hold” rating and set a $3.75 price objective (down from $10.00) on shares of TELUS International (Cda) in a report on Tuesday, August 6th. TD Cowen downgraded TELUS International (Cda) from a “buy” rating to a “hold” rating and lowered their target price for the company from $10.00 to $3.75 in a research note on Tuesday, August 6th. Bank of America downgraded TELUS International (Cda) from a “buy” rating to an “underperform” rating and cut their price target for the stock from $11.00 to $4.00 in a research note on Monday, August 5th. Finally, Cibc World Mkts cut TELUS International (Cda) from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, TELUS International (Cda) has a consensus rating of “Hold” and an average target price of $7.37.

TELUS International (Cda) Stock Performance

Shares of NYSE TIXT traded down $0.25 during mid-day trading on Friday, hitting $3.62. The company had a trading volume of 331,061 shares, compared to its average volume of 331,515. TELUS International has a 12 month low of $2.83 and a 12 month high of $11.51. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.02 and a quick ratio of 1.09. The firm has a market cap of $386.72 million, a P/E ratio of -72.40, a PEG ratio of 1.20 and a beta of 0.68. The business’s 50-day simple moving average is $3.75 and its 200-day simple moving average is $4.88.

TELUS International (Cda) (NYSE:TIXT) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. The company had revenue of $658.00 million for the quarter, compared to analyst estimates 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 quarter last year, the firm earned $0.19 EPS. As a group, analysts predict that TELUS International will post 0.44 earnings per share 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.