Guardian Capital Advisors LP Cuts Stock Holdings in CGI Inc. (NYSE:GIB)

Guardian Capital Advisors LP decreased its holdings in shares of CGI Inc. (NYSE:GIBGet Rating) (TSE:GIB.A) by 69.1% in the 1st quarter, Holdings Channel reports. The firm owned 6,862 shares of the technology company’s stock after selling 15,312 shares during the period. Guardian Capital Advisors LP’s holdings in CGI were worth $560,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Maverick Capital Ltd. purchased a new stake in CGI in the fourth quarter worth approximately $27,000. CWM LLC boosted its stake in CGI by 101.1% in the first quarter. CWM LLC now owns 1,444 shares of the technology company’s stock worth $115,000 after buying an additional 726 shares in the last quarter. Chilton Capital Management LLC purchased a new stake in CGI in the fourth quarter worth approximately $133,000. JJJ Advisors Inc. boosted its stake in CGI by 28.0% in the first quarter. JJJ Advisors Inc. now owns 2,010 shares of the technology company’s stock worth $161,000 after buying an additional 440 shares in the last quarter. Finally, Gluskin Sheff & Assoc Inc. purchased a new stake in CGI in the fourth quarter worth approximately $201,000. Hedge funds and other institutional investors own 48.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GIB. TD Securities upped their target price on CGI from C$130.00 to C$135.00 in a research note on Thursday, July 28th. BMO Capital Markets boosted their price objective on CGI from C$120.00 to C$125.00 in a research report on Thursday, July 28th. Canaccord Genuity Group boosted their price objective on CGI from C$120.00 to C$125.00 in a research report on Thursday, July 28th. StockNews.com downgraded CGI from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Finally, Royal Bank of Canada boosted their price objective on CGI from C$120.00 to C$130.00 in a research report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.13.

CGI Price Performance

Shares of CGI stock opened at $81.82 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. The company has a market cap of $19.53 billion, a PE ratio of 17.52, a P/E/G ratio of 1.87 and a beta of 0.97. The business has a 50 day moving average of $82.89 and a 200 day moving average of $81.52. CGI Inc. has a 52 week low of $73.76 and a 52 week 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.

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Institutional Ownership by Quarter for CGI (NYSE:GIB)

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