CGI Inc. (NYSE:GIB) Shares Bought by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 184.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,765 shares of the technology company’s stock after buying an additional 18,644 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in CGI were worth $2,871,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GIB. Evergreen Capital Management LLC raised its position in CGI by 6.7% during the second quarter. Evergreen Capital Management LLC now owns 3,437 shares of the technology company’s stock worth $343,000 after acquiring an additional 215 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of CGI by 9.2% during the second quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock worth $205,000 after purchasing an additional 173 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new position in shares of CGI during the 2nd quarter worth about $515,000. Skandinaviska Enskilda Banken AB publ lifted its stake in CGI by 12.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 30,967 shares of the technology company’s stock valued at $3,091,000 after buying an additional 3,404 shares in the last quarter. Finally, Promethos Capital LLC boosted its holdings in CGI by 24.0% in the 2nd quarter. Promethos Capital LLC now owns 84,444 shares of the technology company’s stock worth $8,424,000 after buying an additional 16,317 shares during the last quarter. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Price Performance

NYSE:GIB opened at $114.22 on Friday. CGI Inc. has a one year low of $93.07 and a one year high of $118.89. The stock has a market cap of $26.36 billion, a PE ratio of 22.01, a P/E/G ratio of 2.63 and a beta of 0.95. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.16. The stock has a 50 day moving average price of $110.76 and a 200 day moving average price of $106.75.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, July 31st. The technology company reported $1.40 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.40. CGI had a return on equity of 20.21% and a net margin of 11.51%. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.67 billion. Equities research analysts expect that CGI Inc. will post 5.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GIB. CIBC cut CGI from a “sector outperform” rating to a “neutral” rating in a report on Friday, June 21st. Jefferies Financial Group increased their price objective on CGI from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Sanford C. Bernstein upgraded CGI to a “strong-buy” rating in a report on Thursday, August 1st. Finally, UBS Group initiated coverage on shares of CGI in a report on Friday, July 19th. They set a “neutral” rating and a $112.00 target price for the company. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $132.67.

About CGI

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.