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

TELUS International (Cda) Inc. (NYSE:TIXT) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 1,900,000 shares, a drop of 18.5% from the October 15th total of 2,330,000 shares. Based on an average daily trading volume, of 443,000 shares, the short-interest ratio is presently 4.3 days. Currently, 3.0% of the shares of the stock are short sold.

TELUS International (Cda) Stock Down 6.5 %

TIXT stock traded down $0.25 during midday trading on Friday, hitting $3.62. The company’s stock had a trading volume of 331,061 shares, compared to its average volume of 413,283. TELUS International has a 52-week low of $2.83 and a 52-week high of $11.51. The firm has a 50-day simple moving average of $3.75 and a 200-day simple moving average of $4.86. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.09 and a current ratio of 1.02.

TELUS International (Cda) (NYSE:TIXT) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. TELUS International (Cda) had a return on equity of 9.67% and a net margin of 1.17%. The company had revenue of $658.00 million for the quarter, compared to the consensus estimate of $650.10 million. During the same quarter in the prior year, the business earned $0.19 EPS. As a group, equities analysts predict that TELUS International will post 0.43 EPS for the current year.

Analyst Ratings Changes

TIXT has been the subject of a number of research reports. TD Securities reissued a “hold” rating and set a $3.75 price target (down from $10.00) on shares of TELUS International (Cda) in a research note on Tuesday, August 6th. Robert W. Baird lowered their target price on TELUS International (Cda) from $8.00 to $4.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. Desjardins upgraded shares of TELUS International (Cda) to a “hold” rating in a research report on Thursday, September 26th. Barclays decreased their price target on shares of TELUS International (Cda) from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Finally, Bank of America cut shares of TELUS International (Cda) from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $11.00 to $4.00 in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, TELUS International (Cda) has an average rating of “Hold” and an average target price of $7.37.

Institutional Investors Weigh In On TELUS International (Cda)

A number of large investors have recently modified their holdings of TIXT. Barclays PLC grew its stake in shares of TELUS International (Cda) by 118.8% during the third quarter. Barclays PLC now owns 30,629 shares of the company’s stock worth $120,000 after purchasing an additional 16,629 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in TELUS International (Cda) during the 3rd quarter worth about $115,000. Orion Portfolio Solutions LLC acquired a new position in shares of TELUS International (Cda) during the 3rd quarter worth about $96,000. XTX Topco Ltd increased its holdings in shares of TELUS International (Cda) by 148.9% in the 3rd quarter. XTX Topco Ltd now owns 82,199 shares of the company’s stock valued at $321,000 after acquiring an additional 49,178 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of TELUS International (Cda) by 26.8% in the 3rd quarter. National Bank of Canada FI now owns 95,673 shares of the company’s stock valued at $374,000 after acquiring an additional 20,230 shares during the last quarter. 59.55% of the stock is owned by hedge funds and other institutional investors.

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.