Skandinaviska Enskilda Banken AB publ lessened its position in shares of CGI (NYSE:GIB) (TSE:GIB.A) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 284,800 shares of the technology company’s stock after selling 3,800 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.10% of CGI worth $18,364,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the stock. Bank of Montreal Can bought a new stake in CGI during the 2nd quarter worth approximately $403,130,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in CGI by 8.9% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,828,857 shares of the technology company’s stock worth $242,489,000 after acquiring an additional 314,500 shares during the period. Great West Life Assurance Co. Can increased its holdings in CGI by 1.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 2,860,961 shares of the technology company’s stock worth $181,845,000 after acquiring an additional 30,451 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in CGI by 0.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,042,670 shares of the technology company’s stock worth $131,711,000 after acquiring an additional 5,352 shares during the period. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its holdings in CGI by 12.1% during the 2nd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,446,700 shares of the technology company’s stock worth $120,525,000 after acquiring an additional 156,200 shares during the period. 58.78% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently weighed in on the stock. Desjardins reaffirmed a “buy” rating on shares of CGI in a report on Friday. Royal Bank of Canada increased their price target on shares of CGI from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday. Raymond James reissued a “buy” rating on shares of CGI in a report on Wednesday. Zacks Investment Research lowered shares of CGI from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Finally, Barclays increased their price target on shares of CGI from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Thursday, August 2nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. CGI currently has a consensus rating of “Buy” and a consensus price target of $77.67.
Shares of NYSE:GIB opened at $61.91 on Friday. The firm has a market capitalization of $17.46 billion, a PE ratio of 19.01, a P/E/G ratio of 1.96 and a beta of 0.61. CGI has a one year low of $52.54 and a one year high of $66.53. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.68 and a current ratio of 0.99.
CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings results on Wednesday, November 7th. The technology company reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.01. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.79 billion. CGI had a net margin of 9.92% and a return on equity of 17.92%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.93 EPS. Research analysts expect that CGI will post 3.53 EPS for the current fiscal year.
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CGI Company Profile
CGI Group Inc provides information technology (IT) and business process services in Canada and internationally. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities. The company offers application development, integration, and maintenance services; technology infrastructure management services; and business process services, such as collections and payroll management.
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