Brokerages Set Telus Digital (NYSE:TIXT) Target Price at $3.93

Shares of Telus Digital (NYSE:TIXT) have earned an average recommendation of “Reduce” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $3.9333.

Several research firms recently weighed in on TIXT. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Telus Digital in a research note on Wednesday, October 8th. Wall Street Zen upgraded Telus Digital to a “hold” rating in a research report on Saturday, November 1st. Scotiabank lifted their price target on Telus Digital from $3.40 to $4.50 and gave the stock a “sector perform” rating in a research note on Thursday, September 4th. National Bankshares cut shares of Telus Digital from a “sector perform” rating to a “tender” rating and increased their price objective for the company from $4.00 to $4.50 in a research note on Wednesday, September 3rd. Finally, Stifel Canada downgraded shares of Telus Digital from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd.

Institutional Investors Weigh In On Telus Digital

Institutional investors and hedge funds have recently bought and sold shares of the stock. TD Asset Management Inc increased its position in Telus Digital by 4.0% during the first quarter. TD Asset Management Inc now owns 260,719 shares of the company’s stock worth $699,000 after buying an additional 9,992 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Telus Digital by 87.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,086 shares of the company’s stock valued at $102,000 after acquiring an additional 17,764 shares during the last quarter. Bank of Nova Scotia increased its position in Telus Digital by 4.1% during the 1st quarter. Bank of Nova Scotia now owns 257,784 shares of the company’s stock worth $692,000 after purchasing an additional 10,053 shares in the last quarter. National Bank of Canada FI raised its stake in Telus Digital by 26.7% in the 1st quarter. National Bank of Canada FI now owns 92,189 shares of the company’s stock valued at $244,000 after purchasing an additional 19,427 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Telus Digital in the 1st quarter valued at about $225,000. Hedge funds and other institutional investors own 59.55% of the company’s stock.

Telus Digital Trading Down 0.6%

Shares of Telus Digital stock opened at $4.33 on Wednesday. The company has a 50-day moving average of $4.43 and a two-hundred day moving average of $3.85. Telus Digital has a 12-month low of $2.13 and a 12-month high of $4.60. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.85. The stock has a market cap of $1.20 billion, a PE ratio of -3.12 and a beta of 0.94.

Telus Digital Company Profile

TELUS Digital 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.