TELUS International (Cda) Inc. (NYSE:TIXT) Sees Significant Increase in Short Interest

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

Institutional Trading of TELUS International (Cda)

Hedge funds have recently added to or reduced their stakes in the company. Aquatic Capital Management LLC acquired a new stake in TELUS International (Cda) in the fourth quarter valued at approximately $37,000. Two Sigma Securities LLC acquired a new stake in TELUS International (Cda) in the fourth quarter valued at approximately $42,000. Bayesian Capital Management LP acquired a new stake in TELUS International (Cda) in the fourth quarter valued at approximately $45,000. Virtu Financial LLC acquired a new stake in TELUS International (Cda) in the third quarter valued at approximately $54,000. Finally, Walleye Capital LLC acquired a new stake in TELUS International (Cda) in the third quarter valued at approximately $60,000. Institutional investors and hedge funds own 59.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TIXT shares. Stifel Canada raised shares of TELUS International (Cda) to a “strong-buy” rating in a research report on Wednesday, January 15th. Stifel Nicolaus started coverage on shares of TELUS International (Cda) in a research report on Thursday, January 16th. They issued a “buy” rating and a $5.00 target price on the stock. Finally, TD Securities upped their target price on shares of TELUS International (Cda) from $3.75 to $4.00 and gave the company a “hold” rating in a research report on Friday, February 14th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have assigned a buy rating and one has given 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 $7.21.

TELUS International (Cda) Stock Up 0.9 %

Shares of TIXT traded up $0.03 during mid-day trading on Wednesday, hitting $2.80. 219,498 shares of the company’s stock were exchanged, compared to its average volume of 386,417. The company has a market cap of $768.63 million, a price-to-earnings ratio of -7.99, a P/E/G ratio of 4.71 and a beta of 0.72. TELUS International has a fifty-two week low of $2.61 and a fifty-two week high of $8.96. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.95 and a current ratio of 0.95. The stock’s 50-day moving average is $3.40 and its 200-day moving average is $3.64.

TELUS International (Cda) (NYSE:TIXT) last issued its earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.03). The firm had revenue of $691.00 million during the quarter, compared to analyst estimates of $672.44 million. TELUS International (Cda) had a negative net margin of 2.30% and a positive return on equity of 5.73%. On average, sell-side analysts anticipate that TELUS International will post 0.32 earnings per share for the current fiscal year.

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.