Henry James International Management Inc. Boosts Stake in CGI Inc. (NYSE:GIB)

Henry James International Management Inc. raised its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 7.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 82,029 shares of the technology company’s stock after purchasing an additional 5,517 shares during the quarter. CGI accounts for approximately 2.8% of Henry James International Management Inc.’s investment portfolio, making the stock its 10th biggest position. Henry James International Management Inc.’s holdings in CGI were worth $9,063,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of GIB. Norges Bank acquired a new stake in shares of CGI in the 4th quarter valued at $273,239,000. Clearbridge Investments LLC acquired a new stake in shares of CGI in the 4th quarter valued at $85,909,000. TD Asset Management Inc boosted its holdings in shares of CGI by 29.6% in the 4th quarter. TD Asset Management Inc now owns 2,156,776 shares of the technology company’s stock valued at $232,181,000 after purchasing an additional 493,145 shares in the last quarter. Fiera Capital Corp boosted its holdings in shares of CGI by 7.1% in the 4th quarter. Fiera Capital Corp now owns 4,085,404 shares of the technology company’s stock valued at $439,103,000 after purchasing an additional 272,371 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of CGI by 54.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 735,174 shares of the technology company’s stock valued at $78,818,000 after purchasing an additional 258,651 shares in the last quarter. Institutional investors and hedge funds own 66.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. TD Securities raised CGI from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd. CIBC downgraded CGI from a “sector outperform” rating to a “neutral” rating in a report on Friday, June 21st. Finally, Jefferies Financial Group raised their price objective on CGI from $120.00 to $121.00 and gave the company a “buy” rating in a report on Tuesday.

CGI Price Performance

Shares of NYSE GIB traded up $2.44 during mid-day trading on Tuesday, hitting $107.37. 130,591 shares of the stock traded hands, compared to its average volume of 156,393. The company has a market cap of $24.78 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 2.45 and a beta of 0.95. CGI Inc. has a twelve month low of $93.07 and a twelve month high of $118.89. The firm has a 50 day simple moving average of $101.82 and a two-hundred day simple moving average of $106.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.17 and a quick ratio of 0.86.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its earnings results on Wednesday, May 1st. The technology company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.44 by $0.02. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.79 billion. CGI had a return on equity of 20.43% and a net margin of 11.38%. As a group, equities research analysts forecast that CGI Inc. will post 5.58 EPS for the current fiscal year.

CGI Company Profile

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.