TELUS International (Cda) Inc. (NYSE:TIXT) Sees Large Drop in Short Interest

TELUS International (Cda) Inc. (NYSE:TIXT) was the target of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 2,050,000 shares, a drop of 17.3% from the December 15th total of 2,480,000 shares. Based on an average daily volume of 409,000 shares, the short-interest ratio is currently 5.0 days. Approximately 3.2% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TIXT shares. Stifel Nicolaus started coverage on shares of TELUS International (Cda) in a report on Thursday. They set a “buy” rating and a $5.00 price target for the company. Desjardins raised shares of TELUS International (Cda) to a “hold” rating in a research note on Thursday, September 26th. Finally, Stifel Canada upgraded shares of TELUS International (Cda) to a “strong-buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, TELUS International (Cda) currently has a consensus rating of “Hold” and an average price target of $7.20.

TELUS International (Cda) Price Performance

Shares of TELUS International (Cda) stock traded down $0.09 during trading on Friday, hitting $3.55. The stock had a trading volume of 721,583 shares, compared to its average volume of 497,086. The business has a fifty day moving average of $3.74 and a two-hundred day moving average of $4.09. The firm has a market cap of $975.43 million, a P/E ratio of -70.94, a PEG ratio of 1.11 and a beta of 0.67. TELUS International has a fifty-two week low of $2.83 and a fifty-two week high of $11.51. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.02 and a quick ratio of 1.02.

TELUS International (Cda) (NYSE:TIXT) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.03. The company had revenue of $658.00 million during the quarter, compared to analyst estimates of $650.10 million. TELUS International (Cda) had a net margin of 1.17% and a return on equity of 9.67%. During the same quarter last year, the firm posted $0.19 EPS. On average, sell-side analysts expect that TELUS International will post 0.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in TELUS International (Cda) during the 3rd quarter worth about $54,000. Walleye Capital LLC acquired a new position in shares of TELUS International (Cda) in the third quarter worth about $60,000. PFW Advisors LLC purchased a new position in shares of TELUS International (Cda) in the fourth quarter worth approximately $67,000. Blue Trust Inc. raised its holdings in shares of TELUS International (Cda) by 15.1% during the third quarter. Blue Trust Inc. now owns 22,428 shares of the company’s stock valued at $88,000 after acquiring an additional 2,948 shares during the period. Finally, Orion Portfolio Solutions LLC purchased a new stake in shares of TELUS International (Cda) in the 3rd quarter valued at approximately $96,000. Institutional investors and hedge funds own 59.55% of the company’s stock.

About TELUS International (Cda)

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.