Russell Investments Group Ltd. lessened its position in CGI Inc (NYSE:GIB) (TSE:GIB.A) by 14.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 377,865 shares of the technology company’s stock after selling 64,514 shares during the quarter. Russell Investments Group Ltd. owned about 0.14% of CGI worth $29,880,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Zions Bancorporation N.A. bought a new position in CGI in the 2nd quarter worth $28,000. CWM LLC raised its holdings in CGI by 182.3% in the 3rd quarter. CWM LLC now owns 367 shares of the technology company’s stock worth $29,000 after acquiring an additional 237 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its holdings in CGI by 30.2% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 560 shares of the technology company’s stock worth $43,000 after acquiring an additional 130 shares during the period. NEXT Financial Group Inc bought a new position in CGI in the 2nd quarter worth $76,000. Finally, Marshall Wace LLP bought a new position in shares of CGI during the 1st quarter worth about $110,000. Hedge funds and other institutional investors own 55.56% of the company’s stock.
Several research analysts have recently issued reports on the stock. ValuEngine downgraded shares of CGI from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Societe Generale downgraded shares of CGI from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. National Bank Financial restated a “buy” rating on shares of CGI in a report on Wednesday, July 31st. CIBC restated a “hold” rating and set a $106.00 price objective on shares of CGI in a report on Thursday. Finally, Barclays assumed coverage on shares of CGI in a report on Friday, September 20th. They set an “overweight” rating and a $90.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $95.17.
NYSE:GIB opened at $79.58 on Friday. The company has a market cap of $20.93 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 2.15 and a beta of 0.53. The firm’s 50-day moving average is $78.05 and its 200-day moving average is $76.43. CGI Inc has a 52-week low of $57.35 and a 52-week high of $80.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.75 and a current ratio of 1.09.
CGI (NYSE:GIB) (TSE:GIB.A) last posted its earnings results on Wednesday, November 6th. The technology company reported $1.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.29. The business had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.99 billion. CGI had a net margin of 10.32% and a return on equity of 18.78%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.09 earnings per share. Equities analysts predict that CGI Inc will post 3.91 EPS for the current year.
CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.
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