Tobam Sells 593 Shares of CGI Inc. (NYSE:GIB)

Tobam reduced its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 16.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,066 shares of the technology company’s stock after selling 593 shares during the quarter. Tobam’s holdings in CGI were worth $352,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of GIB. Janus Henderson Group PLC lifted its position in CGI by 3,776.8% in the 1st quarter. Janus Henderson Group PLC now owns 699,798 shares of the technology company’s stock valued at $77,381,000 after acquiring an additional 681,747 shares in the last quarter. Goldman Sachs Group Inc. grew its position in CGI by 54.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 735,174 shares of the technology company’s stock worth $78,818,000 after purchasing an additional 258,651 shares during the period. Bessemer Group Inc. raised its stake in CGI by 9,135.3% during the 1st 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 bought a new position in shares of CGI during the 2nd quarter valued at $11,418,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of CGI by 22.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 625,106 shares of the technology company’s stock worth $62,394,000 after buying an additional 113,903 shares during the last quarter. 66.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports 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 target price on shares of CGI from $120.00 to $121.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. UBS Group assumed coverage on shares of CGI in a research report on Friday, July 19th. They issued a “neutral” rating and a $112.00 price target on the stock. Finally, CIBC lowered CGI from a “sector outperform” rating to a “neutral” rating in a research note on Friday, June 21st. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, CGI presently has an average rating of “Moderate Buy” and an average target price of $132.67.

CGI Price Performance

Shares of NYSE:GIB opened at $114.33 on Friday. The firm’s 50 day simple moving average is $111.76 and its two-hundred day simple moving average is $106.60. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 0.86. The company has a market capitalization of $26.38 billion, a P/E ratio of 21.61, a P/E/G ratio of 2.45 and a beta of 0.95. CGI Inc. has a 1-year low of $93.07 and a 1-year high of $118.89.

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

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.