Eaton Vance Management Grows Stake in CGI Inc. (NYSE:GIB)

Eaton Vance Management grew its holdings in CGI Inc. (NYSE:GIB – Get Rating) (TSE:GIB.A) by 8.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 12,341 shares of the technology company’s stock after acquiring an additional 928 shares during the quarter. Eaton Vance Management’s holdings in CGI were worth $934,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Guardian Wealth Advisors LLC purchased a new position in shares of CGI in the 3rd quarter valued at about $27,000. Exchange Traded Concepts LLC increased its holdings in shares of CGI by 650.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 495 shares of the technology company’s stock valued at $37,000 after acquiring an additional 429 shares during the last quarter. Wealthsimple Inc. purchased a new position in shares of CGI in the 3rd quarter valued at about $210,000. Chilton Capital Management LLC purchased a new position in shares of CGI in the 2nd quarter valued at about $119,000. Finally, Wipfli Financial Advisors LLC acquired a new stake in shares of CGI in the 3rd quarter valued at about $124,000. Hedge funds and other institutional investors own 48.54% of the company’s stock.

Analysts Set New Price Targets

GIB has been the subject of a number of research analyst reports. Desjardins upped their target price on CGI from C$136.00 to C$140.00 in a research report on Thursday, February 2nd. Societe Generale cut CGI from a “buy” rating to a “hold” rating in a research report on Monday, November 14th. They noted that the move was a valuation call. Royal Bank of Canada upped their target price on CGI from C$130.00 to C$145.00 in a research report on Thursday, February 2nd. CIBC upped their target price on CGI from C$140.00 to C$146.00 in a research report on Thursday, February 2nd. Finally, Scotiabank upped their target price on CGI from C$135.00 to C$140.00 in a research report on Thursday, February 2nd.

CGI Stock Down 0.9 %

CGI stock opened at $90.96 on Tuesday. CGI Inc. has a twelve month low of $72.23 and a twelve month high of $94.00. The stock has a 50 day moving average of $88.67 and a two-hundred day moving average of $83.72. The company has a current ratio of 1.08, a quick ratio of 0.84 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $21.69 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 1.80 and a beta of 0.92.

CGI Company Profile

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CGI, Inc engages in the provision of information technology and consulting services. It operates through the following segments: Western and Southern Europe, U.S. Commercial and State Government, Canada, U.S. Federal, Scandinavia and Central Europe, UK and Australia; Finland, Poland, and Baltics, Northwest and Central-East Europe, and Asia Pacific.