Mackenzie Financial Corp Sells 2,110,841 Shares of TELUS International (Cda) Inc. (NYSE:TIXT)

Mackenzie Financial Corp decreased its position in shares of TELUS International (Cda) Inc. (NYSE:TIXT) by 24.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,498,406 shares of the company’s stock after selling 2,110,841 shares during the quarter. Mackenzie Financial Corp owned approximately 8.89% of TELUS International (Cda) worth $55,838,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Advisor Group Holdings Inc. boosted its stake in TELUS International (Cda) by 156.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 9,241 shares of the company’s stock worth $228,000 after purchasing an additional 5,631 shares during the period. JPMorgan Chase & Co. boosted its stake in TELUS International (Cda) by 43.4% in the 1st quarter. JPMorgan Chase & Co. now owns 7,367 shares of the company’s stock worth $182,000 after purchasing an additional 2,228 shares during the period. BlackRock Inc. boosted its stake in TELUS International (Cda) by 39.2% in the 1st quarter. BlackRock Inc. now owns 23,362 shares of the company’s stock worth $577,000 after purchasing an additional 6,582 shares during the period. Cibc World Market Inc. raised its holdings in shares of TELUS International (Cda) by 0.8% in the 1st quarter. Cibc World Market Inc. now owns 88,458 shares of the company’s stock valued at $2,186,000 after acquiring an additional 728 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of TELUS International (Cda) by 39.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 71,700 shares of the company’s stock valued at $1,774,000 after acquiring an additional 20,400 shares in the last quarter. Institutional investors own 59.55% of the company’s stock.

Wall Street Analysts Forecast Growth

TIXT has been the topic of several recent analyst reports. Barclays raised their price target on TELUS International (Cda) from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. TheStreet raised TELUS International (Cda) from a “d” rating to a “c-” rating in a report on Monday, February 12th. TD Securities raised their price target on TELUS International (Cda) from $10.50 to $11.50 and gave the company a “buy” rating in a report on Monday, February 12th. Guggenheim began coverage on TELUS International (Cda) in a report on Tuesday, March 19th. They issued a “neutral” rating and a $9.00 price target on the stock. Finally, BMO Capital Markets raised their price target on TELUS International (Cda) from $8.00 to $10.50 and gave the stock a “market perform” rating in a research report on Monday, February 12th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $13.83.

TELUS International (Cda) Price Performance

Shares of TIXT stock opened at $8.44 on Wednesday. The firm has a market cap of $901.11 million, a P/E ratio of 56.24, a P/E/G ratio of 8.90 and a beta of 0.90. TELUS International has a fifty-two week low of $6.03 and a fifty-two week high of $21.75. The business’s 50 day moving average price is $9.34 and its 200-day moving average price is $8.28. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.14 and a current ratio of 1.14.

TELUS International (Cda) (NYSE:TIXT) last released its quarterly earnings results on Friday, February 9th. The company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. TELUS International (Cda) had a return on equity of 11.74% and a net margin of 1.99%. The company had revenue of $692.00 million for the quarter, compared to analyst estimates of $691.00 million. During the same period in the previous year, the company posted $0.34 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. On average, equities research analysts anticipate that TELUS International will post 0.89 earnings per share for the current 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.