TELUS Digital (NYSE:TIXT) Shares Bought by Circumference Group LLC

Circumference Group LLC increased its holdings in shares of TELUS Digital (NYSE:TIXT) by 8.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 625,000 shares of the company’s stock after purchasing an additional 50,000 shares during the quarter. TELUS Digital accounts for about 2.1% of Circumference Group LLC’s investment portfolio, making the stock its 20th largest holding. Circumference Group LLC owned approximately 0.23% of TELUS Digital worth $2,450,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TIXT. Wells Fargo & Company MN increased its stake in TELUS Digital by 1.1% during the 4th quarter. Wells Fargo & Company MN now owns 316,626 shares of the company’s stock worth $1,244,000 after buying an additional 3,397 shares during the period. Franklin Resources Inc. increased its holdings in shares of TELUS Digital by 3.3% in the 4th quarter. Franklin Resources Inc. now owns 113,690 shares of the company’s stock valued at $446,000 after acquiring an additional 3,667 shares during the last quarter. Blue Trust Inc. lifted its stake in TELUS Digital by 27.3% during the fourth quarter. Blue Trust Inc. now owns 28,560 shares of the company’s stock worth $112,000 after purchasing an additional 6,132 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co boosted its holdings in TELUS Digital by 17.5% in the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 56,135 shares of the company’s stock worth $220,000 after purchasing an additional 8,350 shares during the period. Finally, Aquatic Capital Management LLC bought a new stake in TELUS Digital during the fourth quarter valued at $37,000. Institutional investors and hedge funds own 59.55% of the company’s stock.

TELUS Digital Price Performance

Shares of TIXT traded up $0.28 during trading hours on Monday, hitting $2.99. The stock had a trading volume of 327,962 shares, compared to its average volume of 396,047. TELUS Digital has a 52 week low of $2.13 and a 52 week high of $6.86. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $822.82 million, a price-to-earnings ratio of -8.53, a P/E/G ratio of 4.71 and a beta of 0.72. The company’s fifty day moving average is $2.59 and its two-hundred day moving average is $3.31.

TELUS Digital (NYSE:TIXT) last issued its quarterly 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. The firm had revenue of $647.04 million for the quarter, compared to analyst estimates of $650.18 million. TELUS Digital had a negative net margin of 2.30% and a positive return on equity of 5.73%. On average, analysts anticipate that TELUS Digital will post 0.32 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TIXT. Scotiabank lowered their price objective on 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 Bank Financial upgraded TELUS Digital from a “sector perform” rating to an “outperform” rating in a research report on Friday. Barclays decreased their price target on 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. Stifel Nicolaus began coverage on TELUS Digital in a report on Thursday, January 16th. They set a “buy” rating and a $5.00 target price on the stock. Finally, Stifel Canada upgraded shares of TELUS Digital to a “strong-buy” rating in a report on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, TELUS Digital currently has an average rating of “Hold” and a consensus price target of $4.23.

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.