QV Investors Inc. Reduces Stock Holdings in CGI Inc. (NYSE:GIB)

QV Investors Inc. reduced its position in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 13.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 537,876 shares of the technology company's stock after selling 80,287 shares during the quarter. CGI accounts for about 5.5% of QV Investors Inc.'s holdings, making the stock its 4th largest holding. QV Investors Inc. owned approximately 0.23% of CGI worth $61,960,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of GIB. Vanguard Group Inc. boosted its stake in CGI by 0.8% in the first quarter. Vanguard Group Inc. now owns 7,603,481 shares of the technology company's stock worth $840,109,000 after buying an additional 64,037 shares in the last quarter. Fiera Capital Corp grew its holdings in shares of 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 purchasing an additional 79,303 shares during the last quarter. TD Asset Management Inc raised its position in CGI by 2.0% in the 2nd quarter. TD Asset Management Inc now owns 2,203,320 shares of the technology company's stock worth $219,873,000 after purchasing an additional 43,355 shares during the period. Cibc World Market Inc. lifted its stake 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 purchasing an additional 105,817 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in CGI by 3,776.8% during the first quarter. Janus Henderson Group PLC now owns 699,798 shares of the technology company's stock valued at $77,381,000 after buying an additional 681,747 shares during the period. 66.68% of the stock is currently owned by institutional investors.

CGI Trading Down 0.7 %

Shares of GIB traded down $0.76 during mid-day trading on Wednesday, hitting $114.67. 100,568 shares of the company's stock traded hands, compared to its average volume of 150,146. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $26.46 billion, a P/E ratio of 22.12, a PEG ratio of 2.45 and a beta of 0.95. The business's 50-day moving average price is $112.34 and its 200-day moving average price is $106.72. CGI Inc. has a 1 year low of $93.07 and a 1 year high of $118.89.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last issued its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.40 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.40. CGI had a net margin of 11.51% and a return on equity of 20.21%. The business had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.67 billion. As a group, sell-side analysts forecast that CGI Inc. will post 5.55 EPS for the current fiscal year.

Analyst Ratings Changes

GIB has been the subject of a number of recent research reports. Jefferies Financial Group boosted 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. CIBC raised CGI from a "neutral" rating to an "outperformer" rating and increased their price objective for the company from $155.00 to $178.00 in a research note on Tuesday. Sanford C. Bernstein upgraded shares of CGI to a "strong-buy" rating in a report on Thursday, August 1st. UBS Group began coverage on shares of CGI in a report on Friday, July 19th. They set a "neutral" rating and a $112.00 price target for the company. Finally, Cibc World Mkts raised shares of CGI from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $137.00.

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.