TELUS International (Cda) Inc. (NYSE:TIXT) Short Interest Up 19.2% in February

TELUS International (Cda) Inc. (NYSE:TIXT) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 3,540,000 shares, an increase of 19.2% from the February 13th total of 2,970,000 shares. Approximately 5.5% of the company’s stock are sold short. Based on an average daily trading volume, of 483,700 shares, the short-interest ratio is currently 7.3 days.

TELUS International (Cda) Price Performance

Shares of TIXT traded up $0.00 during trading hours on Thursday, reaching $2.79. The company had a trading volume of 23,665 shares, compared to its average volume of 385,787. The firm has a 50 day simple moving average of $3.39 and a 200-day simple moving average of $3.63. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $767.53 million, a price-to-earnings ratio of -7.97, a PEG ratio of 4.71 and a beta of 0.72. TELUS International has a 12-month low of $2.61 and a 12-month high of $8.96.

TELUS International (Cda) (NYSE:TIXT) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). The company had revenue of $691.00 million during the quarter, compared to analysts’ expectations of $672.44 million. TELUS International (Cda) had a negative net margin of 2.30% and a positive return on equity of 5.73%. Research analysts expect that TELUS International will post 0.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TIXT shares. Stifel Canada upgraded shares of TELUS International (Cda) to a “strong-buy” rating in a report on Wednesday, January 15th. Stifel Nicolaus started coverage on shares of TELUS International (Cda) in a research note on Thursday, January 16th. They set a “buy” rating and a $5.00 price target for the company. Finally, TD Securities increased their price target on shares of TELUS International (Cda) from $3.75 to $4.00 and gave the stock a “hold” rating in a research note on Friday, February 14th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, TELUS International (Cda) currently has an average rating of “Hold” and a consensus price target of $7.08.

Hedge Funds Weigh In On TELUS International (Cda)

Several hedge funds have recently added to or reduced their stakes in the business. Mackenzie Financial Corp increased its holdings in TELUS International (Cda) by 31.1% during the 4th quarter. Mackenzie Financial Corp now owns 10,868,451 shares of the company’s stock valued at $42,673,000 after acquiring an additional 2,578,241 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in TELUS International (Cda) during the 3rd quarter valued at about $24,223,000. Clearbridge Investments LLC increased its holdings in TELUS International (Cda) by 27.2% during the 4th quarter. Clearbridge Investments LLC now owns 5,606,794 shares of the company’s stock valued at $21,979,000 after acquiring an additional 1,198,312 shares in the last quarter. Scheer Rowlett & Associates Investment Management Ltd. increased its holdings in TELUS International (Cda) by 1.2% during the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,189,850 shares of the company’s stock valued at $12,522,000 after acquiring an additional 38,587 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in TELUS International (Cda) by 209.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,095,220 shares of the company’s stock valued at $8,222,000 after acquiring an additional 1,418,119 shares in the last quarter. 59.55% of the stock is currently 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.