Scheer Rowlett & Associates Investment Management Ltd. Boosts Stake in Telus Digital $TIXT

Scheer Rowlett & Associates Investment Management Ltd. raised its stake in shares of Telus Digital (NYSE:TIXT) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,667,490 shares of the company’s stock after buying an additional 87,750 shares during the quarter. Telus Digital comprises about 0.9% of Scheer Rowlett & Associates Investment Management Ltd.’s investment portfolio, making the stock its 27th biggest position. Scheer Rowlett & Associates Investment Management Ltd. owned about 1.33% of Telus Digital worth $13,394,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. raised 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. QV Investors Inc. boosted its stake in shares of Telus Digital by 25.8% during the 2nd quarter. QV Investors Inc. now owns 7,614,325 shares of the company’s stock worth $27,623,000 after purchasing an additional 1,561,690 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of 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 purchasing an additional 677,879 shares during the last quarter. Cardinal Point Capital Management ULC purchased a new stake in shares of Telus Digital during the second quarter worth about $386,000. Finally, Nuveen LLC acquired a new position in shares of Telus Digital in the first quarter valued at approximately $225,000. 59.55% of the stock is owned by institutional investors and hedge funds.

Telus Digital Stock Performance

Telus Digital stock opened at $4.33 on Friday. The stock’s 50-day moving average is $4.44 and its 200-day moving average is $3.75. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -3.12 and a beta of 0.94. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.84 and a quick ratio of 0.84. Telus Digital has a 12 month low of $2.13 and a 12 month high of $4.60.

Wall Street Analyst Weigh In

TIXT has been the topic of a number of analyst reports. National Bank Financial lowered shares of Telus Digital from an “outperform” rating to a “sector perform” rating and set a $4.00 target price on the stock. in a research report on Monday, July 21st. Stifel Canada lowered Telus Digital from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 2nd. National Bankshares downgraded Telus Digital from a “sector perform” rating to a “tender” rating and lifted their price objective for the company from $4.00 to $4.50 in a research report on Wednesday, September 3rd. Wall Street Zen upgraded Telus Digital to a “hold” rating in a research note on Saturday, November 1st. Finally, Morgan Stanley reduced their target price on Telus Digital from $3.49 to $3.40 and set an “equal weight” rating on the stock in a research report on Monday, August 4th. Eight investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $3.93.

Telus Digital Profile

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.