AGF Management Ltd. Has $14.80 Million Stock Holdings in CGI Inc. (NYSE:GIB)

AGF Management Ltd. increased its stake in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 7.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,139 shares of the technology company’s stock after purchasing an additional 9,409 shares during the quarter. AGF Management Ltd.’s holdings in CGI were worth $14,795,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Andra AP fonden acquired a new position in CGI during the 2nd quarter worth approximately $11,418,000. Caprock Group LLC acquired a new position in CGI during the 2nd quarter worth approximately $448,000. Lloyd Advisory Services LLC. acquired a new position in CGI during the 2nd quarter worth approximately $299,000. TD Asset Management Inc increased its position in CGI by 2.0% during the 2nd quarter. TD Asset Management Inc now owns 2,203,320 shares of the technology company’s stock worth $219,873,000 after purchasing an additional 43,355 shares in the last quarter. Finally, Fiera Capital Corp increased its position in CGI by 1.9% during the 2nd quarter. Fiera Capital Corp now owns 4,269,775 shares of the technology company’s stock worth $426,353,000 after purchasing an additional 79,303 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Trading Up 0.9 %

NYSE:GIB opened at $114.89 on Thursday. The firm’s fifty day moving average is $108.34 and its 200-day moving average is $106.82. 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 $93.07 and a 52 week high of $118.89. The firm has a market cap of $26.51 billion, a P/E ratio of 22.14, a P/E/G ratio of 2.60 and a beta of 0.95.

Analysts Set New Price Targets

GIB has been the subject of several recent research reports. UBS Group initiated coverage on shares of CGI in a research report on Friday, July 19th. They issued a “neutral” rating and a $112.00 price target for the company. CIBC cut shares of CGI from a “sector outperform” rating to a “neutral” rating in a research report on Friday, June 21st. Sanford C. Bernstein upgraded shares of CGI to a “strong-buy” rating in a research report on Thursday, August 1st. Finally, Jefferies Financial Group upped their price target on shares of CGI from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.67.

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.