Toronto Dominion Bank Trims Position in TELUS International (Cda) Inc. (NYSE:TIXT)

Toronto Dominion Bank lessened its stake in shares of TELUS International (Cda) Inc. (NYSE:TIXT) by 26.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,567 shares of the company’s stock after selling 8,712 shares during the period. Toronto Dominion Bank’s holdings in TELUS International (Cda) were worth $142,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Capital Research Global Investors raised its holdings in shares of TELUS International (Cda) by 5.2% during the 4th quarter. Capital Research Global Investors now owns 13,941,858 shares of the company’s stock worth $119,621,000 after acquiring an additional 689,468 shares during the period. 1832 Asset Management L.P. increased its position in shares of TELUS International (Cda) by 5.3% during the 1st quarter. 1832 Asset Management L.P. now owns 1,285,270 shares of the company’s stock worth $10,873,000 after purchasing an additional 64,570 shares during the last quarter. Forge First Asset Management Inc. acquired a new stake in shares of TELUS International (Cda) during the 1st quarter worth about $2,758,000. TD Asset Management Inc increased its position in shares of TELUS International (Cda) by 2.1% during the 2nd quarter. TD Asset Management Inc now owns 254,914 shares of the company’s stock worth $1,472,000 after purchasing an additional 5,351 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of TELUS International (Cda) by 2.3% during the 2nd quarter. Marshall Wace LLP now owns 223,262 shares of the company’s stock worth $1,290,000 after purchasing an additional 5,017 shares during the last quarter. Hedge funds and other institutional investors own 59.55% of the company’s stock.

TELUS International (Cda) Stock Performance

Shares of TIXT opened at $3.74 on Wednesday. The stock has a 50-day simple moving average of $3.94 and a 200-day simple moving average of $5.89. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $399.54 million, a PE ratio of 24.93, a PEG ratio of 1.23 and a beta of 0.68. TELUS International has a 1 year low of $2.83 and a 1 year high of $11.51.

TELUS International (Cda) (NYSE:TIXT) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.03). The company had revenue of $652.00 million during the quarter, compared to analysts’ expectations of $682.32 million. TELUS International (Cda) had a net margin of 2.70% and a return on equity of 11.66%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.16 EPS. On average, analysts predict that TELUS International will post 0.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TIXT shares. JPMorgan Chase & Co. downgraded TELUS International (Cda) from a “neutral” rating to an “underweight” rating and set a $7.00 price objective for the company. in a research report on Wednesday, July 17th. Barclays cut their price objective on TELUS International (Cda) from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. TD Securities reissued a “hold” rating and set a $3.75 price objective (down from $10.00) on shares of TELUS International (Cda) in a research report on Tuesday, August 6th. CIBC downgraded TELUS International (Cda) from a “sector outperform” rating to a “neutral” rating in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada downgraded TELUS International (Cda) from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $10.00 to $5.00 in a research report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, TELUS International (Cda) has a consensus rating of “Hold” and a consensus target price of $7.55.

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.