TELUS International (Cda) (NYSE:TIXT) Trading 3.1% Higher – Time to Buy?

Shares of TELUS International (Cda) Inc. (NYSE:TIXT) shot up 3.1% on Tuesday . The stock traded as high as $2.76 and last traded at $2.82. 13,719 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 385,849 shares. The stock had previously closed at $2.73.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TIXT. TD Securities lifted their target price on TELUS International (Cda) from $3.75 to $4.00 and gave the company a “hold” rating in a research note on Friday, February 14th. Stifel Nicolaus initiated coverage on TELUS International (Cda) in a research note on Thursday, January 16th. They issued a “buy” rating and a $5.00 target price on the stock. Finally, Stifel Canada upgraded TELUS International (Cda) to a “strong-buy” rating in a research note on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, TELUS International (Cda) has an average rating of “Hold” and an average price target of $7.08.

TELUS International (Cda) Stock Performance

The firm has a fifty day moving average of $3.39 and a 200-day moving average of $3.63. The stock has a market capitalization of $768.63 million, a price-to-earnings ratio of -7.99, a PEG ratio of 4.71 and a beta of 0.72. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.72.

TELUS International (Cda) (NYSE:TIXT) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.03). The firm had revenue of $691.00 million for the quarter, compared to analyst estimates of $672.44 million. TELUS International (Cda) had a positive return on equity of 5.73% and a negative net margin of 2.30%. As a group, sell-side analysts anticipate that TELUS International will post 0.32 EPS for the current year.

Hedge Funds Weigh In On TELUS International (Cda)

A number of institutional investors have recently made changes to their positions in TIXT. Scheer Rowlett & Associates Investment Management Ltd. raised its holdings in shares of TELUS International (Cda) by 5.8% in the third quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,151,263 shares of the company’s stock worth $12,301,000 after acquiring an additional 173,477 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of TELUS International (Cda) by 192.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 158,732 shares of the company’s stock worth $620,000 after acquiring an additional 104,430 shares during the last quarter. Northwest & Ethical Investments L.P. raised its holdings in shares of 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 worth $7,110,000 after acquiring an additional 1,310,287 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of TELUS International (Cda) in the third quarter worth $60,000. Finally, Circumference Group LLC acquired a new position in shares of TELUS International (Cda) in the third quarter worth $2,248,000. 59.55% of the stock is owned by institutional investors and hedge funds.

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.