Telus Digital $TIXT Shares Acquired by Scheer Rowlett & Associates Investment Management Ltd.

Scheer Rowlett & Associates Investment Management Ltd. increased its holdings in shares of Telus Digital (NYSE:TIXT) by 2.5% in the second quarter, Holdings Channel reports. The firm owned 3,667,490 shares of the company’s stock after acquiring an additional 87,750 shares during the period. Telus Digital makes up 0.9% of Scheer Rowlett & Associates Investment Management Ltd.’s portfolio, making the stock its 27th biggest position. Scheer Rowlett & Associates Investment Management Ltd.’s holdings in Telus Digital were worth $13,394,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. QV Investors Inc. lifted its stake in shares of Telus Digital by 25.8% during the second quarter. QV Investors Inc. now owns 7,614,325 shares of the company’s stock worth $27,623,000 after purchasing an additional 1,561,690 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Telus Digital by 1,347.7% in the first quarter. Acadian Asset Management LLC now owns 728,179 shares of the company’s stock valued at $1,942,000 after buying an additional 677,879 shares in the last quarter. Circumference Group LLC raised its holdings in shares of Telus Digital by 8.0% during the 1st quarter. Circumference Group LLC now owns 675,000 shares of the company’s stock valued at $1,816,000 after buying an additional 50,000 shares during the period. Goldman Sachs Group Inc. lifted its position in Telus Digital by 73.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 541,635 shares of the company’s stock worth $1,457,000 after acquiring an additional 229,369 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in Telus Digital by 4.0% during the 1st quarter. TD Asset Management Inc now owns 260,719 shares of the company’s stock worth $699,000 after acquiring an additional 9,992 shares in the last quarter. 59.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Stifel Nicolaus downgraded shares of Telus Digital from a “buy” rating to a “hold” rating and increased their price objective for the company from $4.00 to $4.50 in a research report on Wednesday, September 3rd. Morgan Stanley decreased their target price on shares of Telus Digital from $3.49 to $3.40 and set an “equal weight” rating for the company in a research note on Monday, August 4th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Telus Digital in a report on Wednesday, October 8th. National Bank Financial lowered shares of Telus Digital from an “outperform” rating to a “sector perform” rating and set a $4.00 price objective on the stock. in a report on Monday, July 21st. Finally, Scotiabank upped their price objective on shares of Telus Digital from $3.40 to $4.50 and gave the company a “sector perform” rating in a research report on Thursday, September 4th. Eight equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $3.93.

Telus Digital Stock Down 0.6%

TIXT stock opened at $4.33 on Friday. 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 firm has a 50 day simple moving average of $4.44 and a 200-day simple moving average of $3.75. The company has a market capitalization of $1.20 billion, a P/E ratio of -3.12 and a beta of 0.94. Telus Digital has a twelve month low of $2.13 and a twelve month high of $4.60.

Telus Digital 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.