Cardinal Point Capital Management ULC Makes New $386,000 Investment in Telus Digital $TIXT

Cardinal Point Capital Management ULC purchased a new position in shares of Telus Digital (NYSE:TIXT) during the 2nd quarter, Holdings Channel reports. The fund purchased 106,385 shares of the company’s stock, valued at approximately $386,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Acadian Asset Management LLC lifted its position in Telus Digital by 1,347.7% during the 1st quarter. Acadian Asset Management LLC now owns 728,179 shares of the company’s stock worth $1,942,000 after buying an additional 677,879 shares in the last quarter. Circumference Group LLC lifted its stake in Telus Digital by 8.0% in the 1st quarter. Circumference Group LLC now owns 675,000 shares of the company’s stock valued at $1,816,000 after purchasing an additional 50,000 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Telus Digital by 73.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 541,635 shares of the company’s stock valued at $1,457,000 after purchasing an additional 229,369 shares during the last quarter. TD Asset Management Inc lifted its stake in Telus Digital by 4.0% in the 1st quarter. TD Asset Management Inc now owns 260,719 shares of the company’s stock valued at $699,000 after purchasing an additional 9,992 shares during the last quarter. Finally, Bank of Nova Scotia lifted its stake in Telus Digital by 4.1% in the 1st quarter. Bank of Nova Scotia now owns 257,784 shares of the company’s stock valued at $692,000 after purchasing an additional 10,053 shares during the last quarter. 59.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TIXT has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Telus Digital in a research note on Friday. Stifel Nicolaus downgraded shares of Telus Digital from a “buy” rating to a “hold” rating and raised their target price for the company from $4.00 to $4.50 in a research note on Wednesday, September 3rd. National Bankshares cut shares of Telus Digital from a “sector perform” rating to a “tender” rating and increased their price target for the company from $4.00 to $4.50 in a report on Wednesday, September 3rd. Wall Street Zen cut shares of Telus Digital from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. Finally, CIBC cut shares of Telus Digital from a “neutral” rating to a “tender” rating and increased their price target for the company from $3.40 to $4.50 in a report on Wednesday, September 3rd. Eight research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $3.93.

Telus Digital Stock Up 0.3%

Shares of TIXT opened at $4.36 on Friday. Telus Digital has a 12 month low of $2.13 and a 12 month high of $4.60. The firm’s 50 day moving average is $4.34 and its 200-day moving average is $3.60. The stock has a market capitalization of $1.21 billion, a PE ratio of -3.13 and a beta of 0.94. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.85.

Telus Digital (NYSE:TIXT) last announced its earnings results on Friday, August 1st. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. Telus Digital had a negative net margin of 14.09% and a positive return on equity of 1.99%. The company had revenue of $711.33 million for the quarter, compared to analysts’ expectations of $660.87 million. Telus Digital has set its FY 2025 guidance at 0.320-0.320 EPS. Equities research analysts forecast that Telus Digital will post 0.32 EPS for the current year.

About Telus Digital

TELUS Digital 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.