TELUS International (Cda) Inc. Sees Significant Drop in Short Interest

TELUS International (Cda) Inc. (NYSE:TIXT) experienced a notable decline in short interest during February. As of February 15th, the total short interest stood at 2,970,000 shares, reflecting a 21.0% decrease from the 3,760,000 shares reported at the end of January. Currently, around 4.6% of the company's total shares are sold short. Based on an average daily trading volume of 449,700 shares, this results in a short-interest ratio of 6.6 days.

Institutional Investors Reflect on TELUS International (Cda)

Recently, several institutional investors and hedge funds have bought and sold shares in TELUS International (Cda). Notably, Mackenzie Financial Corp increased its stake by 31.1% in the fourth quarter. They now hold 10,868,451 shares valued at approximately $42,673,000 after acquiring an additional 2,578,241 shares. Public Employees Retirement System of Ohio also raised its stake by 18.8%, owning 34,862 shares worth $137,000 following the purchase of an extra 5,509 shares. Furthermore, Two Sigma Advisers LP saw a major increase of 719.0% during the same period, bringing their holdings to 81,900 shares valued at $321,000 after acquiring 71,900 shares. Similarly, Two Sigma Investments LP raised its stake by 578.8%, owning 497,821 shares currently valued at $1,951,000 after adding 424,484 shares. Lastly, the State of Wyoming increased its stake by 50.1%, resulting in ownership of 69,853 shares valued at $271,000 after acquiring 23,325 additional shares. Collectively, institutional investors and hedge funds own 59.55% of TELUS International.

Analysts Adjust Price Predictions

Several analysts have recently shared their opinions regarding TELUS International (Cda). TD Securities raised its target price from $3.75 to $4.00 while maintaining a "hold" rating as of February 14th. Stifel Nicolaus began coverage in January, assigning a "buy" rating and a price target of $5.00. Furthermore, Stifel Canada upgraded the rating to "strong-buy" based on earlier assessments. In summary, while two analysts issued sell ratings, thirteen opted for hold, and two assigned buy ratings, with one marking it as a strong buy. TELUS International holds an average rating of "Hold" with a price target of $7.21, according to MarketBeat.

TELUS International (Cda) Stock Performance

On a recent trading session, shares of TELUS International (Cda) decreased by 0.2%, dropping to $2.70. The company noted a trading volume of 395,466 shares, which is greater than its average of 378,748. TELUS International has a market capitalization of $741.13 million and several key financial ratios: a price-to-earnings ratio of -7.70, a price-to-earnings-growth ratio of 4.71, and a beta of 0.67. The fifty-day moving average stands at $3.62 while the two-hundred-day moving average is at $3.69. The company's debt-to-equity ratio is 0.72, with both its quick ratio and current ratio at 0.95. Over the past year, TELUS International has reached a low of $2.61 and a high of $9.94.

On February 13th, TELUS International released its earnings results, reporting an earnings per share (EPS) of ($0.04) for the quarter, which fell short of analysts' expectations of ($0.01) by $0.03. The reported revenue for the quarter was $691.00 million, surpassing analysts’ forecasts of $672.44 million. The company recorded a negative net margin of 2.30% and a positive return on equity of 5.73%. Looking ahead, analysts project that TELUS International will post an EPS of 0.32 for the current year.

TELUS International (Cda) Company Overview

TELUS International (Cda) Inc. specializes in designing, building, and delivering digital solutions for customer experience (CX) across various regions, including Asia-Pacific, Central America, Europe, Africa, and North America. The company offers an array of digital experience solutions, such as AI and bots, omnichannel CX, enterprise mobility solutions, cloud contact centers, big data analytics, platform transformation, and UX/UI design, along with customer experience services like remote work, contact center outsourcing, technical support, sales expansion, customer retention, healthcare experience, and debt collection.

Final Thoughts

Investors may be keen to catch the latest buzz concerning TELUS International (Cda) before making decisions. With its current hold rating and analysts pointing to potentially stronger investment alternatives, it's crucial to stay informed about market trends and financial forecasts.

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