TELUS International (Cda) (NYSE:TIXT) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of TELUS International (Cda) (NYSE:TIXT – Get Rating) from a buy rating to a hold rating in a report released on Saturday morning, Zacks.com reports.

According to Zacks, “TELUS International designs, builds and delivers next-generation digital solutions for global and disruptive brands. The company provides integrated solutions and capabilities span digital strategy, innovation, consulting and design, digital transformation and IT lifecycle solutions, data annotation and intelligent automation, and omnichannel CX solutions which include content moderation, trust and safety solutions and other managed solutions. TELUS International is based in VANCOUVER, British Columbia. “

Other research analysts also recently issued reports about the company. Robert W. Baird cut their price objective on TELUS International (Cda) from $34.00 to $28.00 in a research note on Monday, May 2nd. Credit Suisse Group dropped their price target on TELUS International (Cda) from $32.00 to $25.00 in a research report on Monday, May 9th. Citigroup lowered their price objective on TELUS International (Cda) from $32.00 to $30.00 in a research report on Monday, May 9th. Wells Fargo & Company began coverage on TELUS International (Cda) in a research report on Monday, April 4th. They set an overweight rating and a $35.00 price objective on the stock. Finally, TD Securities decreased their price target on TELUS International (Cda) from $38.00 to $33.00 and set a buy rating on the stock in a research note on Monday, May 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus target price of $34.31.

Shares of NYSE TIXT opened at $23.94 on Friday. The firm has a market capitalization of $6.36 billion, a PE ratio of 58.39, a PEG ratio of 1.12 and a beta of 1.14. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.46. TELUS International has a one year low of $20.73 and a one year high of $39.91. The business has a 50-day moving average price of $23.70 and a two-hundred day moving average price of $27.64.

Institutional investors have recently bought and sold shares of the business. Capital Research Global Investors increased its stake in shares of TELUS International (Cda) by 171.8% in the 3rd quarter. Capital Research Global Investors now owns 6,955,886 shares of the company’s stock valued at $243,526,000 after purchasing an additional 4,396,437 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of TELUS International (Cda) by 177.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,671,991 shares of the company’s stock worth $163,183,000 after acquiring an additional 2,346,257 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of TELUS International (Cda) by 64.6% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,626,084 shares of the company’s stock worth $92,028,000 after acquiring an additional 1,030,716 shares in the last quarter. Royal Bank of Canada raised its position in shares of TELUS International (Cda) by 48.9% in the 3rd quarter. Royal Bank of Canada now owns 3,101,497 shares of the company’s stock worth $108,584,000 after acquiring an additional 1,018,888 shares in the last quarter. Finally, FIL Ltd increased its position in TELUS International (Cda) by 26.0% in the 3rd quarter. FIL Ltd now owns 4,792,004 shares of the company’s stock valued at $168,119,000 after buying an additional 990,224 shares in the last quarter. Hedge funds and other institutional investors own 39.28% of the company’s stock.

TELUS International (Cda) Company Profile (Get Rating)

TELUS International (Cda) Inc provides customer experience and digital business services in Europe, North America, the Asia-Pacific, and the Central America. It offers digital experience solutions, such as AI and bots, omnichannel CX, mobility solutions, cloud contact center, big data, platform transformation, and UX/UI design; and customer experience solutions, including work anywhere/work from home, customer care, technical support, sales growth and retention, and healthcare/patient experience.

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