TELUS International (Cda) Inc. (NYSE:TIXT) Sees Significant Increase in Short Interest

TELUS International (Cda) Inc. (NYSE:TIXT) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 3,540,000 shares, an increase of 19.2% from the February 13th total of 2,970,000 shares. Based on an average daily volume of 483,700 shares, the short-interest ratio is presently 7.3 days. Currently, 5.5% of the shares of the company are sold short.

TELUS International (Cda) Price Performance

TIXT stock traded up $0.03 during midday trading on Wednesday, reaching $2.80. The stock had a trading volume of 219,498 shares, compared to its average volume of 386,417. The company’s fifty day simple moving average is $3.40 and its 200 day simple moving average is $3.64. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.72. The company has a market cap of $768.63 million, a price-to-earnings ratio of -7.99, a price-to-earnings-growth ratio of 4.71 and a beta of 0.72. TELUS International has a 52-week low of $2.61 and a 52-week high of $8.96.

TELUS International (Cda) (NYSE:TIXT) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). The firm had revenue of $691.00 million during the quarter, compared to analysts’ expectations of $672.44 million. TELUS International (Cda) had a negative net margin of 2.30% and a positive return on equity of 5.73%. As a group, sell-side analysts predict that TELUS International will post 0.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on TIXT. TD Securities upped their price objective on TELUS International (Cda) from $3.75 to $4.00 and gave the stock a “hold” rating in a research report on Friday, February 14th. Stifel Canada upgraded TELUS International (Cda) to a “strong-buy” rating in a research report on Wednesday, January 15th. Finally, 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 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.21.

Institutional Trading of TELUS International (Cda)

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Scheer Rowlett & Associates Investment Management Ltd. boosted its position in shares of TELUS International (Cda) by 5.8% during the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,151,263 shares of the company’s stock valued at $12,301,000 after acquiring an additional 173,477 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of TELUS International (Cda) by 192.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 158,732 shares of the company’s stock valued at $620,000 after purchasing an additional 104,430 shares during the period. Northwest & Ethical Investments L.P. grew its holdings in shares of TELUS International (Cda) by 256.5% in the third quarter. Northwest & Ethical Investments L.P. now owns 1,821,074 shares of the company’s stock valued at $7,110,000 after purchasing an additional 1,310,287 shares during the period. Walleye Capital LLC purchased a new stake in shares of TELUS International (Cda) in the third quarter valued at about $60,000. Finally, Circumference Group LLC purchased a new stake in shares of TELUS International (Cda) in the third quarter valued at about $2,248,000. 59.55% of the stock is owned by institutional investors and hedge funds.

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.