CGI Inc. (NYSE:GIB) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in CGI Inc. (NYSE:GIBFree Report) (TSE:GIB.A) by 3.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 605,886 shares of the technology company’s stock after selling 20,189 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.26% of CGI worth $66,886,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of GIB. Hexagon Capital Partners LLC raised its position in shares of CGI by 297.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 270 shares of the technology company’s stock valued at $29,000 after buying an additional 202 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of CGI in the first quarter valued at about $30,000. CWM LLC raised its position in shares of CGI by 19.1% in the first quarter. CWM LLC now owns 1,185 shares of the technology company’s stock valued at $131,000 after buying an additional 190 shares during the last quarter. Tritonpoint Wealth LLC acquired a new stake in shares of CGI in the fourth quarter valued at about $205,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of CGI by 41.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,978 shares of the technology company’s stock valued at $212,000 after purchasing an additional 579 shares during the period. 66.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Trading Down 0.8 %

Shares of GIB stock opened at $101.41 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.17 and a quick ratio of 0.86. The firm has a market cap of $23.40 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 2.37 and a beta of 0.95. The company has a 50-day moving average of $101.55 and a two-hundred day moving average of $107.07. CGI Inc. has a 1-year low of $93.07 and a 1-year high of $118.89.

CGI (NYSE:GIBGet Free Report) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.02. The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.79 billion. CGI had a net margin of 11.38% and a return on equity of 20.43%. On average, analysts predict that CGI Inc. will post 5.58 EPS for the current year.

Analysts Set New Price Targets

GIB has been the subject of a number of analyst reports. CIBC lowered shares of CGI from a “sector outperform” rating to a “neutral” rating in a report on Friday, June 21st. TD Securities raised shares of CGI from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd. Jefferies Financial Group initiated coverage on shares of CGI in a report on Tuesday. They issued a “buy” rating and a $120.00 price objective for the company. Finally, StockNews.com lowered shares of CGI from a “buy” rating to a “hold” rating in a report on Monday, March 11th.

Get Our Latest Stock Analysis on CGI

CGI Profile

(Free Report)

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.

Read More

Want to see what other hedge funds are holding GIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CGI Inc. (NYSE:GIBFree Report) (TSE:GIB.A).

Institutional Ownership by Quarter for CGI (NYSE:GIB)

Receive News & Ratings for CGI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CGI and related companies with MarketBeat.com's FREE daily email newsletter.