Tobam Reduces Holdings in CGI Inc. (NYSE:GIB)

Tobam decreased its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 16.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,066 shares of the technology company’s stock after selling 593 shares during the period. Tobam’s holdings in CGI were worth $352,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Janus Henderson Group PLC grew its holdings in CGI by 3,776.8% during the 1st quarter. Janus Henderson Group PLC now owns 699,798 shares of the technology company’s stock valued at $77,381,000 after purchasing an additional 681,747 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of CGI by 54.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 735,174 shares of the technology company’s stock valued at $78,818,000 after buying an additional 258,651 shares during the period. Bessemer Group Inc. grew its stake in shares of CGI by 9,135.3% during the first quarter. Bessemer Group Inc. now owns 126,986 shares of the technology company’s stock valued at $14,011,000 after buying an additional 125,611 shares during the last quarter. Andra AP fonden purchased a new stake in shares of CGI in the second quarter worth approximately $11,418,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of CGI by 22.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 625,106 shares of the technology company’s stock worth $62,394,000 after acquiring an additional 113,903 shares during the last quarter. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Price Performance

GIB opened at $114.33 on Friday. CGI Inc. has a 12-month low of $93.07 and a 12-month high of $118.89. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22. The business’s fifty day simple moving average is $111.76 and its 200-day simple moving average is $106.60. The company has a market capitalization of $26.38 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 2.45 and a beta of 0.95.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Sanford C. Bernstein raised CGI to a “strong-buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group upped their price target on shares of CGI from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. UBS Group assumed coverage on shares of CGI in a research note on Friday, July 19th. They issued a “neutral” rating and a $112.00 price target on the stock. Finally, CIBC downgraded shares of CGI from a “sector outperform” rating to a “neutral” rating in a research note on Friday, June 21st. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, CGI currently has a consensus rating of “Moderate Buy” and an average price target of $132.67.

CGI 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.