APG Asset Management N.V. Boosts Position in CGI Inc. (NYSE:GIB)

APG Asset Management N.V. boosted its holdings in CGI Inc. (NYSE:GIBGet Rating) (TSE:GIB.A) by 6.5% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 50,731 shares of the technology company’s stock after buying an additional 3,100 shares during the period. APG Asset Management N.V.’s holdings in CGI were worth $3,635,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of GIB. First Trust Advisors LP raised its holdings in CGI by 3.1% in the fourth quarter. First Trust Advisors LP now owns 22,145 shares of the technology company’s stock valued at $1,958,000 after buying an additional 672 shares during the period. Dimensional Fund Advisors LP raised its holdings in CGI by 5.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 310,882 shares of the technology company’s stock valued at $27,513,000 after buying an additional 17,329 shares during the period. Aviva PLC raised its holdings in CGI by 2.2% in the fourth quarter. Aviva PLC now owns 68,161 shares of the technology company’s stock valued at $6,024,000 after buying an additional 1,490 shares during the period. Burgundy Asset Management Ltd. raised its stake in shares of CGI by 12.7% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,381,690 shares of the technology company’s stock valued at $121,898,000 after purchasing an additional 155,827 shares during the period. Finally, Exencial Wealth Advisors LLC raised its stake in shares of CGI by 16.2% during the fourth quarter. Exencial Wealth Advisors LLC now owns 8,366 shares of the technology company’s stock valued at $740,000 after purchasing an additional 1,168 shares during the period. Hedge funds and other institutional investors own 48.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GIB. StockNews.com lowered shares of CGI from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. TD Securities lifted their price objective on shares of CGI from C$130.00 to C$135.00 in a research note on Thursday, July 28th. Royal Bank of Canada lifted their price objective on shares of CGI from C$120.00 to C$130.00 in a research note on Thursday, July 28th. Canaccord Genuity Group lifted their price objective on shares of CGI from C$120.00 to C$125.00 in a research note on Thursday, July 28th. Finally, BMO Capital Markets lifted their price objective on shares of CGI from C$120.00 to C$125.00 in a research note on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $123.13.

CGI Stock Performance

CGI stock opened at $78.81 on Thursday. The company has a market cap of $18.81 billion, a PE ratio of 16.88, a P/E/G ratio of 1.82 and a beta of 0.97. The company has a fifty day moving average price of $82.86 and a two-hundred day moving average price of $81.55. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 0.82. CGI Inc. has a 12 month low of $73.76 and a 12 month high of $93.93.

CGI Profile

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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.

Further Reading

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Institutional Ownership by Quarter for CGI (NYSE:GIB)

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