TELUS International (Cda) (NYSE:TIXT) Shares Up 3.1% – Time to Buy?

TELUS International (Cda) Inc. (NYSE:TIXT) shot up 3.1% during mid-day trading on Tuesday . The stock traded as high as $2.76 and last traded at $2.82. 13,719 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 385,849 shares. The stock had previously closed at $2.73.

Analysts Set New Price Targets

Several brokerages have issued reports on TIXT. Stifel Nicolaus began coverage on shares of TELUS International (Cda) in a report on Thursday, January 16th. They issued a “buy” rating and a $5.00 price target on the stock. TD Securities upped their price target on shares of TELUS International (Cda) from $3.75 to $4.00 and gave the company a “hold” rating in a report on Friday, February 14th. Finally, Stifel Canada raised shares of TELUS International (Cda) to a “strong-buy” rating in a report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.21.

TELUS International (Cda) Stock Performance

The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.72. The company has a market cap of $763.13 million, a PE ratio of -7.87, a P/E/G ratio of 4.71 and a beta of 0.72. The stock’s 50 day simple moving average is $3.42 and its two-hundred day simple moving average is $3.64.

TELUS International (Cda) (NYSE:TIXT) last posted its quarterly earnings results 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 company had revenue of $691.00 million for the quarter, compared to analysts’ expectations of $672.44 million. TELUS International (Cda) had a positive return on equity of 5.73% and a negative net margin of 2.30%. As a group, research analysts anticipate that TELUS International will post 0.32 earnings per share for the current year.

Hedge Funds Weigh In On TELUS International (Cda)

Large investors have recently bought and sold shares of the stock. Scheer Rowlett & Associates Investment Management Ltd. increased its position in shares of TELUS International (Cda) by 5.8% in the third quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,151,263 shares of the company’s stock worth $12,301,000 after acquiring an additional 173,477 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position 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 worth $620,000 after acquiring an additional 104,430 shares in the last quarter. Northwest & Ethical Investments L.P. increased its position 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 worth $7,110,000 after acquiring an additional 1,310,287 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of TELUS International (Cda) in the third quarter worth $60,000. Finally, Circumference Group LLC acquired a new stake in shares of TELUS International (Cda) in the third quarter worth $2,248,000. Hedge funds and other institutional investors own 59.55% of the company’s stock.

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.