Zurcher Kantonalbank Zurich Cantonalbank Purchases 17,764 Shares of Telus Digital (NYSE:TIXT)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Telus Digital (NYSE:TIXT) by 87.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,086 shares of the company’s stock after purchasing an additional 17,764 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Telus Digital were worth $102,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Aquatic Capital Management LLC bought a new stake in shares of Telus Digital during the 4th quarter valued at about $37,000. Two Sigma Securities LLC bought a new position in shares of Telus Digital during the 4th quarter valued at approximately $42,000. Bayesian Capital Management LP bought a new position in shares of Telus Digital during the 4th quarter valued at approximately $45,000. PDT Partners LLC bought a new position in shares of Telus Digital during the 4th quarter valued at approximately $61,000. Finally, BNP Paribas Financial Markets bought a new position in shares of Telus Digital during the 4th quarter valued at approximately $101,000. 59.55% of the stock is currently owned by institutional investors.

Telus Digital Trading Up 2.6%

TIXT stock opened at $3.80 on Monday. Telus Digital has a 1-year low of $2.13 and a 1-year high of $4.60. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -2.73 and a beta of 0.90. The business has a 50 day simple moving average of $3.63 and a two-hundred day simple moving average of $3.17.

Telus Digital (NYSE:TIXT) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. Telus Digital had a positive return on equity of 1.99% and a negative net margin of 14.09%. The business had revenue of $711.33 million during the quarter, compared to the consensus estimate of $660.87 million. Research analysts anticipate that Telus Digital will post 0.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TIXT has been the subject of a number of recent research reports. National Bank Financial downgraded Telus Digital from an “outperform” rating to a “sector perform” rating and set a $4.00 price objective for the company. in a research note on Monday, July 21st. Morgan Stanley cut their price objective on Telus Digital from $3.49 to $3.40 and set an “equal weight” rating for the company in a research note on Monday, August 4th. CIBC cut their price objective on Telus Digital from $4.50 to $3.40 and set a “neutral” rating for the company in a research note on Friday, June 13th. BMO Capital Markets cut their price objective on Telus Digital from $4.50 to $3.00 and set a “market perform” rating for the company in a research note on Monday, May 12th. Finally, Wall Street Zen downgraded Telus Digital from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Ten research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $3.69.

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.