Ritholtz Wealth Management Sells 4,514 Shares of CGI Inc. (NYSE:GIB)

Ritholtz Wealth Management lessened its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 17.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 20,789 shares of the technology company’s stock after selling 4,514 shares during the period. Ritholtz Wealth Management’s holdings in CGI were worth $2,390,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in CGI by 0.8% during the first quarter. Vanguard Group Inc. now owns 7,603,481 shares of the technology company’s stock worth $840,109,000 after acquiring an additional 64,037 shares in the last quarter. Fiera Capital Corp increased its position in CGI by 1.9% during the 2nd quarter. Fiera Capital Corp now owns 4,269,775 shares of the technology company’s stock valued at $426,353,000 after buying an additional 79,303 shares in the last quarter. TD Asset Management Inc raised its stake in CGI by 2.0% during the second quarter. TD Asset Management Inc now owns 2,203,320 shares of the technology company’s stock valued at $219,873,000 after buying an additional 43,355 shares during the last quarter. Cibc World Market Inc. boosted its holdings in CGI by 6.2% in the second quarter. Cibc World Market Inc. now owns 1,803,131 shares of the technology company’s stock worth $180,025,000 after acquiring an additional 105,817 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of CGI by 54.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 735,174 shares of the technology company’s stock worth $78,818,000 after acquiring an additional 258,651 shares during the last quarter. 66.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

CGI Trading Up 0.8 %

Shares of GIB stock opened at $115.30 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22. CGI Inc. has a 12-month low of $93.07 and a 12-month high of $118.89. The stock has a market capitalization of $26.61 billion, a P/E ratio of 22.22, a P/E/G ratio of 2.45 and a beta of 0.95. The firm’s 50 day moving average is $111.94 and its 200 day moving average is $106.68.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly 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. The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.67 billion. CGI had a return on equity of 20.21% and a net margin of 11.51%. Research analysts expect that CGI Inc. will post 5.55 earnings per share for the current 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.