Bank of Montreal Can lowered its position in CGI (NYSE:GIB) (TSE:GIB.A) by 6.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,975,324 shares of the technology company’s stock after selling 391,234 shares during the quarter. Bank of Montreal Can owned about 2.12% of CGI worth $385,288,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC acquired a new stake in shares of CGI in the second quarter valued at approximately $124,000. Daiwa SB Investments Ltd. acquired a new stake in shares of CGI in the second quarter valued at approximately $206,000. WCM Investment Management CA acquired a new stake in shares of CGI in the second quarter valued at approximately $212,000. AE Wealth Management LLC acquired a new stake in shares of CGI in the second quarter valued at approximately $268,000. Finally, Dean Capital Investments Management LLC acquired a new stake in shares of CGI in the second quarter valued at approximately $397,000. Institutional investors own 59.40% of the company’s stock.
Shares of NYSE GIB traded up $0.94 during mid-day trading on Friday, reaching $60.36. 31,398 shares of the company traded hands, compared to its average volume of 195,562. CGI has a fifty-two week low of $51.16 and a fifty-two week high of $66.53. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.99 and a quick ratio of 0.68. The firm has a market capitalization of $18.16 billion, a PE ratio of 21.71, a P/E/G ratio of 2.23 and a beta of 0.54.
CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, August 1st. The technology company reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.24. CGI had a net margin of 9.33% and a return on equity of 18.06%. The business had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the business earned $0.93 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts anticipate that CGI will post 3.22 earnings per share for the current fiscal year.
Several brokerages have commented on GIB. Zacks Investment Research upgraded shares of CGI from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th. Desjardins lowered shares of CGI from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Barclays raised their price target on shares of CGI from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, August 2nd. Finally, Scotiabank lowered shares of CGI from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, July 17th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. CGI currently has an average rating of “Buy” and an average target price of $73.75.
CGI Group Inc provides information technology and business process services in Canada and internationally. It offers application development and maintenance, portfolio management, quality assurance and testing, modernization, and migration services; agile, business transformation, change management, CIO advisory, cybersecurity, data analytics, digital enterprise, project management, and industry-specific business consulting services; business-to-business and customer operations support, purchase management, revenue management, and supplier payment services; and data center facilities and management, technical service desk, printing and document management, remote infrastructure, transformation, storage as a service, data vaulting, disaster recovery and archiving as a service, bottomless edge-to-core storage, and file sync and share as a service, as well as infrastructure solutions and consulting services.
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