Allworth Financial LP Has $52,000 Stake in CGI Inc. (NYSE:GIB)

Allworth Financial LP trimmed its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 85.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 454 shares of the technology company’s stock after selling 2,675 shares during the period. Allworth Financial LP’s holdings in CGI were worth $52,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its holdings in shares of CGI by 11.7% in the first quarter. Commonwealth Equity Services LLC now owns 13,059 shares of the technology company’s stock worth $1,443,000 after acquiring an additional 1,363 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of CGI by 6.9% in the first quarter. Van ECK Associates Corp now owns 30,979 shares of the technology company’s stock worth $3,419,000 after acquiring an additional 1,996 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of CGI by 0.5% in the first quarter. Sequoia Financial Advisors LLC now owns 30,933 shares of the technology company’s stock worth $3,418,000 after acquiring an additional 149 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of CGI in the first quarter worth about $423,000. Finally, Tobam lifted its holdings in shares of CGI by 89.7% in the first quarter. Tobam now owns 5,319 shares of the technology company’s stock worth $587,000 after acquiring an additional 2,515 shares during the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Stock Up 0.7 %

CGI stock opened at $111.51 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.16. CGI Inc. has a 52-week low of $96.92 and a 52-week high of $118.89. The firm has a 50 day moving average price of $113.86 and a two-hundred day moving average price of $107.38. The firm has a market cap of $25.41 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 2.38 and a beta of 0.95.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.40. CGI had a net margin of 11.51% and a return on equity of 20.21%. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. Equities analysts predict that CGI Inc. will post 5.55 EPS for the current year.

Analyst Ratings Changes

GIB has been the subject of a number of research reports. Sanford C. Bernstein raised shares of CGI to a “strong-buy” rating in a report on Thursday, August 1st. Jefferies Financial Group raised their price objective on shares of CGI from $120.00 to $121.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and raised their price objective for the company from $155.00 to $178.00 in a report on Tuesday, October 15th. Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, UBS Group assumed coverage on shares of CGI in a report on Friday, July 19th. They issued a “neutral” rating and a $112.00 price objective for the company. Two analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, CGI has a consensus rating of “Buy” and an average target price of $137.00.

CGI Profile

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.