CGI Inc. (NYSE:GIB) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its stake in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 27.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,055 shares of the technology company’s stock after selling 395 shares during the quarter. Rhumbline Advisers’ holdings in CGI were worth $105,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in CGI by 0.8% in the first quarter. Vanguard Group Inc. now owns 7,603,481 shares of the technology company’s stock valued at $840,109,000 after buying an additional 64,037 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of CGI by 54.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 735,174 shares of the technology company’s stock worth $78,818,000 after buying an additional 258,651 shares during the last quarter. Janus Henderson Group PLC raised its holdings in CGI by 3,776.8% in the first quarter. Janus Henderson Group PLC now owns 699,798 shares of the technology company’s stock valued at $77,381,000 after acquiring an additional 681,747 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in CGI by 8.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 692,449 shares of the technology company’s stock valued at $76,467,000 after acquiring an additional 55,499 shares during the last quarter. Finally, EULAV Asset Management boosted its stake in CGI by 8.7% during the 1st quarter. EULAV Asset Management now owns 376,610 shares of the technology company’s stock valued at $41,612,000 after acquiring an additional 30,200 shares during the last quarter. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Trading Up 0.6 %

Shares of NYSE GIB opened at $114.96 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22. CGI Inc. has a one year low of $93.07 and a one year high of $118.89. The business has a 50-day moving average price of $110.91 and a two-hundred day moving average price of $106.57. The firm has a market capitalization of $26.53 billion, a PE ratio of 22.15, a PEG ratio of 2.63 and a beta of 0.95.

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

Wall Street Analysts Forecast Growth

GIB has been the topic of several research analyst reports. Jefferies Financial Group raised their price objective on CGI from $120.00 to $121.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Sanford C. Bernstein upgraded CGI to a “strong-buy” rating in a research report on Thursday, August 1st. CIBC downgraded CGI from a “sector outperform” rating to a “neutral” rating in a research note on Friday, June 21st. Finally, UBS Group began coverage on CGI in a research note on Friday, July 19th. They set a “neutral” rating and a $112.00 target price for the company. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CGI currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.67.

CGI Company 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.