TELUS International (Cda) (NYSE:TIXT) Stock Price Up 10.8% – Here’s Why

Shares of TELUS International (Cda) Inc. (NYSE:TIXT) shot up 10.8% during trading on Thursday . The company traded as high as $3.85 and last traded at $3.83. 107,038 shares traded hands during trading, a decline of 77% from the average session volume of 467,638 shares. The stock had previously closed at $3.46.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Stifel Nicolaus began coverage on TELUS International (Cda) in a research report on Thursday, January 16th. They issued a “buy” rating and a $5.00 target price on the stock. Stifel Canada upgraded TELUS International (Cda) to a “strong-buy” rating in a report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $7.20.

TELUS International (Cda) Price Performance

The company’s 50-day moving average price is $3.75 and its two-hundred day moving average price is $3.77. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.72. The company has a market cap of $1.04 billion, a P/E ratio of -75.68, a P/E/G ratio of 1.40 and a beta of 0.67.

TELUS International (Cda) (NYSE:TIXT) last posted its earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). TELUS International (Cda) had a net margin of 1.17% and a return on equity of 9.67%. As a group, sell-side analysts expect that TELUS International will post 0.43 earnings per share for the current year.

Institutional Trading of TELUS International (Cda)

A number of institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its stake in shares of TELUS International (Cda) by 72.0% in the 4th quarter. Renaissance Technologies LLC now owns 502,800 shares of the company’s stock worth $1,971,000 after acquiring an additional 210,400 shares during the period. Bank of Nova Scotia raised its holdings in shares of TELUS International (Cda) by 56.2% in the 4th quarter. Bank of Nova Scotia now owns 247,731 shares of the company’s stock worth $974,000 after purchasing an additional 89,119 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of TELUS International (Cda) by 13.0% during the fourth quarter. Bank of Montreal Can now owns 211,122 shares of the company’s stock valued at $829,000 after acquiring an additional 24,368 shares during the period. Wells Fargo & Company MN raised its holdings in shares of TELUS International (Cda) by 1.1% during the fourth quarter. Wells Fargo & Company MN now owns 316,626 shares of the company’s stock valued at $1,244,000 after acquiring an additional 3,397 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of TELUS International (Cda) by 19.2% during the fourth quarter. Geode Capital Management LLC now owns 76,811 shares of the company’s stock valued at $301,000 after acquiring an additional 12,366 shares during the period. 59.55% of the stock is owned by institutional investors and hedge funds.

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.