Cidel Asset Management Inc. decreased its position in CGI Inc (NYSE:GIB) (TSE:GIB.A) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 271,100 shares of the technology company’s stock after selling 2,740 shares during the quarter. Cidel Asset Management Inc. owned 0.10% of CGI worth $21,095,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. FDx Advisors Inc. grew its holdings in shares of CGI by 3.9% in the 2nd quarter. FDx Advisors Inc. now owns 3,684 shares of the technology company’s stock valued at $283,000 after acquiring an additional 138 shares in the last quarter. Parallel Advisors LLC grew its holdings in CGI by 59.0% during the first quarter. Parallel Advisors LLC now owns 574 shares of the technology company’s stock worth $39,000 after purchasing an additional 213 shares during the period. US Bancorp DE grew its holdings in CGI by 7.1% during the first quarter. US Bancorp DE now owns 4,155 shares of the technology company’s stock worth $285,000 after purchasing an additional 274 shares during the period. Csenge Advisory Group grew its holdings in CGI by 9.7% during the first quarter. Csenge Advisory Group now owns 3,713 shares of the technology company’s stock worth $255,000 after purchasing an additional 327 shares during the period. Finally, Bremer Bank National Association bought a new position in CGI during the first quarter worth about $25,000. Institutional investors own 55.19% of the company’s stock.
Shares of NYSE:GIB traded down $0.11 during trading on Friday, reaching $78.12. 600 shares of the stock were exchanged, compared to its average volume of 130,285. CGI Inc has a 12 month low of $57.35 and a 12 month high of $80.59. The firm has a market cap of $20.96 billion, a PE ratio of 24.37, a PEG ratio of 2.33 and a beta of 0.55. The stock has a 50-day moving average price of $77.86 and a 200-day moving average price of $73.68. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 0.35.
CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.01). CGI had a return on equity of 18.78% and a net margin of 10.32%. The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the firm earned $1.08 EPS. The company’s revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts expect that CGI Inc will post 3.56 earnings per share for the current fiscal year.
GIB has been the subject of a number of research analyst reports. Bank of America initiated coverage on CGI in a report on Thursday, May 23rd. They set a “buy” rating and a $83.00 price target for the company. Societe Generale cut CGI from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. National Bank Financial reiterated a “buy” rating on shares of CGI in a report on Wednesday, July 31st. Finally, Zacks Investment Research cut CGI from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. CGI presently has a consensus rating of “Buy” and an average price target of $87.67.
CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.
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