GHP Investment Advisors Inc. boosted its stake in shares of CGI (NYSE:GIB) (TSE:GIB.A) by 11.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,745 shares of the technology company’s stock after buying an additional 1,460 shares during the quarter. GHP Investment Advisors Inc.’s holdings in CGI were worth $951,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in GIB. Daiwa SB Investments Ltd. acquired a new position in shares of CGI during the 2nd quarter worth $206,000. Addenda Capital Inc. acquired a new position in shares of CGI during the 2nd quarter worth $47,785,000. Bank of Montreal Can acquired a new position in shares of CGI during the 2nd quarter worth $403,130,000. Assenagon Asset Management S.A. acquired a new position in shares of CGI during the 2nd quarter worth $815,000. Finally, Acadian Asset Management LLC acquired a new position in shares of CGI during the 2nd quarter worth $46,610,000. 58.78% of the stock is currently owned by hedge funds and other institutional investors.
GIB has been the topic of a number of recent analyst reports. Royal Bank of Canada upped their price target on shares of CGI from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday. Scotiabank cut shares of CGI from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, July 17th. Zacks Investment Research raised shares of CGI from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Wednesday, October 10th. Desjardins reissued a “buy” rating on shares of CGI in a research note on Friday. Finally, Raymond James reissued a “buy” rating on shares of CGI in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $77.67.
NYSE GIB traded down $0.54 during trading hours on Friday, reaching $61.91. The company’s stock had a trading volume of 174,254 shares, compared to its average volume of 249,871. The stock has a market cap of $17.46 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 1.96 and a beta of 0.61. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.24. CGI has a fifty-two week low of $52.54 and a fifty-two week high of $66.53.
CGI (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, November 7th. The technology company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.01. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.79 billion. CGI had a net margin of 9.92% and a return on equity of 17.92%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.93 EPS. As a group, research analysts expect that CGI will post 3.53 earnings per share for the current year.
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CGI Group Inc provides information technology (IT) and business process services in Canada and internationally. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities. The company offers application development, integration, and maintenance services; technology infrastructure management services; and business process services, such as collections and payroll management.
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