BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Raises Holdings in CGI Inc. (NYSE:GIB)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 184.2% during the second quarter, Holdings Channel.com reports. The firm owned 28,765 shares of the technology company’s stock after purchasing an additional 18,644 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in CGI were worth $2,871,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of GIB. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of CGI during the 1st quarter worth about $30,000. UMB Bank n.a. boosted its position in shares of CGI by 9,916.7% during the 1st quarter. UMB Bank n.a. now owns 601 shares of the technology company’s stock worth $66,000 after purchasing an additional 595 shares during the period. CWM LLC increased its holdings in CGI by 19.1% in the 1st quarter. CWM LLC now owns 1,185 shares of the technology company’s stock valued at $131,000 after purchasing an additional 190 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in CGI by 9.2% in the second quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock valued at $205,000 after purchasing an additional 173 shares during the period. Finally, Tidal Investments LLC acquired a new position in CGI during the first quarter worth $226,000. Institutional investors and hedge funds own 66.68% of the company’s stock.

CGI Stock Down 1.9 %

GIB stock opened at $114.22 on Friday. The company’s 50 day moving average price is $110.76 and its 200 day moving average price is $106.75. The firm has a market capitalization of $26.36 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 2.63 and a beta of 0.95. CGI Inc. has a fifty-two week low of $93.07 and a fifty-two week high of $118.89. 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 (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.40 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 company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.67 billion. On average, equities research analysts anticipate that CGI Inc. will post 5.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GIB. Jefferies Financial Group increased their target price on CGI from $120.00 to $121.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. UBS Group began 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. Sanford C. Bernstein upgraded shares of CGI to a “strong-buy” rating in a report on Thursday, August 1st. Finally, CIBC downgraded shares of CGI from a “sector outperform” rating to a “neutral” rating in a research note on Friday, June 21st. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.67.

About CGI

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.