Millennium Management LLC Takes Position in TELUS Digital (NYSE:TIXT)

Millennium Management LLC purchased a new stake in TELUS Digital (NYSE:TIXT) during the fourth quarter, Holdings Channel reports. The firm purchased 43,493 shares of the company’s stock, valued at approximately $171,000.

A number of other institutional investors have also modified their holdings of the company. Lazard Asset Management LLC boosted its holdings in shares of TELUS Digital by 39.1% in the 4th quarter. Lazard Asset Management LLC now owns 175,230 shares of the company’s stock valued at $686,000 after buying an additional 49,228 shares in the last quarter. Graham Capital Management L.P. bought a new stake in shares of TELUS Digital in the 4th quarter valued at about $168,000. Circumference Group LLC boosted its holdings in shares of TELUS Digital by 8.7% in the 4th quarter. Circumference Group LLC now owns 625,000 shares of the company’s stock valued at $2,450,000 after buying an additional 50,000 shares in the last quarter. Deutsche Bank AG bought a new stake in shares of TELUS Digital in the 4th quarter valued at about $246,000. Finally, D. E. Shaw & Co. Inc. boosted its stake in TELUS Digital by 365.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 739,609 shares of the company’s stock worth $2,904,000 after purchasing an additional 580,726 shares in the last quarter. 59.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on TIXT. BMO Capital Markets lowered their target price on shares of TELUS Digital from $4.50 to $3.00 and set a “market perform” rating for the company in a research note on Monday, May 12th. TD Securities lifted their target price on shares of TELUS Digital from $3.75 to $4.00 and gave the stock a “hold” rating in a research note on Friday, February 14th. Scotiabank lowered their target price on shares of TELUS Digital from $5.00 to $3.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 29th. National Bankshares lowered their target price on shares of TELUS Digital from $4.25 to $3.00 and set a “sector perform” rating for the company in a research note on Friday, April 25th. Finally, Barclays lowered their target price on shares of TELUS Digital from $5.00 to $3.00 and set an “equal weight” rating for the company in a research note on Friday, April 25th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, TELUS Digital has an average rating of “Hold” and a consensus price target of $4.07.

TELUS Digital Stock Performance

Shares of NYSE TIXT opened at $3.67 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.72. TELUS Digital has a 12 month low of $2.13 and a 12 month high of $6.86. The company has a 50 day simple moving average of $2.67 and a two-hundred day simple moving average of $3.17. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -10.49, a PEG ratio of 4.71 and a beta of 0.80.

TELUS Digital (NYSE:TIXT) last posted its earnings results on Friday, May 9th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. TELUS Digital had a negative net margin of 2.30% and a positive return on equity of 5.73%. The firm had revenue of $647.04 million during the quarter, compared to analysts’ expectations of $650.18 million. As a group, analysts predict that TELUS Digital will post 0.32 earnings per share for the current year.

About TELUS Digital

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.