Scheer Rowlett & Associates Investment Management Ltd. Grows Stock Holdings in TELUS International (Cda) Inc. (NYSE:TIXT)

Scheer Rowlett & Associates Investment Management Ltd. increased its stake in shares of TELUS International (Cda) Inc. (NYSE:TIXT) by 5.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,151,263 shares of the company’s stock after buying an additional 173,477 shares during the quarter. TELUS International (Cda) comprises about 0.9% of Scheer Rowlett & Associates Investment Management Ltd.’s holdings, making the stock its 29th largest position. Scheer Rowlett & Associates Investment Management Ltd. owned approximately 2.95% of TELUS International (Cda) worth $12,301,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Horrell Capital Management Inc. purchased a new position in shares of TELUS International (Cda) during the third quarter worth about $2,248,000. Blue Trust Inc. boosted its holdings in TELUS International (Cda) by 15.1% in the 3rd quarter. Blue Trust Inc. now owns 22,428 shares of the company’s stock valued at $88,000 after purchasing an additional 2,948 shares in the last quarter. QV Investors Inc. boosted its holdings in TELUS International (Cda) by 398.0% in the 3rd quarter. QV Investors Inc. now owns 6,011,720 shares of the company’s stock valued at $23,496,000 after purchasing an additional 4,804,521 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in TELUS International (Cda) by 5.9% in the 2nd quarter. Mackenzie Financial Corp now owns 8,440,050 shares of the company’s stock valued at $48,744,000 after purchasing an additional 472,103 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in TELUS International (Cda) by 2.3% in the 2nd quarter. Marshall Wace LLP now owns 223,262 shares of the company’s stock valued at $1,290,000 after purchasing an additional 5,017 shares in the last quarter. Hedge funds and other institutional investors own 59.55% of the company’s stock.

TELUS International (Cda) Stock Performance

Shares of NYSE:TIXT traded down $0.01 during trading hours on Wednesday, hitting $3.48. The stock had a trading volume of 36,134 shares, compared to its average volume of 331,234. The stock’s fifty day simple moving average is $3.75 and its 200 day simple moving average is $4.77. TELUS International has a 1-year low of $2.83 and a 1-year high of $11.51. The firm has a market capitalization of $371.77 million, a price-to-earnings ratio of -69.80, a PEG ratio of 1.17 and a beta of 0.68. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.02 and a current ratio of 1.02.

TELUS International (Cda) (NYSE:TIXT) last issued its earnings results on Friday, November 8th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. TELUS International (Cda) had a net margin of 1.17% and a return on equity of 9.67%. The firm had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $650.10 million. During the same period last year, the firm posted $0.19 earnings per share. Sell-side analysts anticipate that TELUS International will post 0.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

TIXT has been the topic of a number of analyst reports. Bank of America lowered TELUS International (Cda) from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $11.00 to $4.00 in a report on Monday, August 5th. BMO Capital Markets lowered their price objective on TELUS International (Cda) from $7.50 to $4.75 and set a “market perform” rating on the stock in a report on Monday, August 5th. TD Securities reissued a “hold” rating and set a $3.75 price target (down previously from $10.00) on shares of TELUS International (Cda) in a research note on Tuesday, August 6th. Desjardins raised TELUS International (Cda) to a “hold” rating in a research note on Thursday, September 26th. Finally, TD Cowen lowered TELUS International (Cda) from a “buy” rating to a “hold” rating and decreased their price target for the stock from $10.00 to $3.75 in a research note on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $7.37.

TELUS International (Cda) 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.