Zurcher Kantonalbank Zurich Cantonalbank Buys 4,973 Shares of TELUS International (Cda) Inc. (NYSE:TIXT)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of TELUS International (Cda) Inc. (NYSE:TIXT) by 32.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,322 shares of the company’s stock after acquiring an additional 4,973 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in TELUS International (Cda) were worth $117,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. 1832 Asset Management L.P. raised its stake in TELUS International (Cda) by 5.3% in the first quarter. 1832 Asset Management L.P. now owns 1,285,270 shares of the company’s stock worth $10,873,000 after buying an additional 64,570 shares in the last quarter. Forge First Asset Management Inc. bought a new position in TELUS International (Cda) in the first quarter worth approximately $2,758,000. Russell Investments Group Ltd. raised its stake in TELUS International (Cda) by 12.4% in the first quarter. Russell Investments Group Ltd. now owns 95,390 shares of the company’s stock worth $809,000 after buying an additional 10,501 shares in the last quarter. Swiss National Bank raised its stake in TELUS International (Cda) by 2.1% in the first quarter. Swiss National Bank now owns 149,000 shares of the company’s stock worth $1,261,000 after buying an additional 3,000 shares in the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co raised its stake in TELUS International (Cda) by 12.1% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 60,700 shares of the company’s stock worth $514,000 after buying an additional 6,560 shares in the last quarter. Institutional investors own 59.55% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. TD Cowen downgraded shares of TELUS International (Cda) from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $10.00 to $3.75 in a research note on Tuesday, August 6th. Scotiabank cut their price target on shares of TELUS International (Cda) from $10.00 to $5.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Bank of America lowered shares of 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 report on Monday, August 5th. TD Securities reaffirmed a “hold” rating and issued a $3.75 price target (down from $10.00) on shares of TELUS International (Cda) in a report on Tuesday, August 6th. Finally, Robert W. Baird cut their price target on shares of TELUS International (Cda) from $8.00 to $4.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.55.

TELUS International (Cda) Price Performance

Shares of TIXT opened at $3.64 on Wednesday. The firm has a market capitalization of $388.86 million, a PE ratio of 24.27, a price-to-earnings-growth ratio of 1.17 and a beta of 0.68. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.09 and a quick ratio of 1.09. TELUS International has a 1-year low of $2.83 and a 1-year high of $11.51. The company’s fifty day moving average price is $4.69 and its 200-day moving average price is $6.52.

TELUS International (Cda) (NYSE:TIXT) last posted its earnings results on Friday, August 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The business had revenue of $652.00 million for the quarter, compared to analyst estimates of $682.32 million. TELUS International (Cda) had a net margin of 2.70% and a return on equity of 11.66%. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 earnings per share. On average, equities research analysts predict that TELUS International will post 0.44 EPS for the current year.

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.