UBS Asset Management Americas Inc. boosted its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,546,655 shares of the technology company’s stock after buying an additional 7,596 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.61% of CGI worth $122,603,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GIB. Freedman Financial Associates Inc. purchased a new stake in shares of CGI during the 4th quarter worth approximately $30,000. International Assets Investment Management LLC bought a new stake in CGI in the fourth quarter worth $41,000. JJJ Advisors Inc. raised its stake in CGI by 329.9% during the fourth quarter. JJJ Advisors Inc. now owns 864 shares of the technology company’s stock valued at $69,000 after purchasing an additional 663 shares in the last quarter. Marshall Wace LLP purchased a new stake in CGI during the first quarter valued at $110,000. Finally, Pacer Advisors Inc. bought a new position in CGI during the fourth quarter valued at $152,000. Institutional investors and hedge funds own 51.30% of the company’s stock.
Shares of CGI stock opened at $84.70 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.35 and a debt-to-equity ratio of 0.45. The stock’s fifty day moving average is $79.67 and its two-hundred day moving average is $75.07. CGI Inc. has a 52 week low of $56.10 and a 52 week high of $85.13. The company has a market capitalization of $21.49 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 2.33 and a beta of 1.03.
GIB has been the topic of several recent research reports. Canaccord Genuity upped their target price on shares of CGI from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, January 28th. Zacks Investment Research downgraded CGI from a “buy” rating to a “hold” rating in a research report on Thursday, January 28th. TD Securities raised their price objective on CGI from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, January 28th. Scotiabank boosted their target price on CGI from $102.00 to $106.00 and gave the company an “outperform” rating in a research report on Thursday, January 28th. Finally, Desjardins restated a “buy” rating on shares of CGI in a report on Tuesday, March 23rd. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $106.14.
CGI Company Profile
CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada; Western, Southern, Central, and Eastern Europe; Australia; Scandinavia; Finland, Poland, and Baltics; the United States; the United Kingdom; 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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