DekaBank Deutsche Girozentrale Cuts Position in CGI Inc. (NYSE:GIB)

DekaBank Deutsche Girozentrale reduced its holdings in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 0.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 924,054 shares of the technology company's stock after selling 5,021 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.40% of CGI worth $105,328,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Intech Investment Management LLC purchased a new position in CGI in the first quarter valued at approximately $5,529,000. Henry James International Management Inc. raised its stake in CGI by 7.2% during the 1st quarter. Henry James International Management Inc. now owns 82,029 shares of the technology company's stock worth $9,063,000 after acquiring an additional 5,517 shares in the last quarter. Fiera Capital Corp lifted its position in CGI by 1.9% in the second quarter. Fiera Capital Corp now owns 4,269,775 shares of the technology company's stock valued at $426,353,000 after acquiring an additional 79,303 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in CGI by 8.7% in the first quarter. Canada Pension Plan Investment Board now owns 692,449 shares of the technology company's stock valued at $76,467,000 after acquiring an additional 55,499 shares in the last quarter. Finally, GHP Investment Advisors Inc. grew its holdings in shares of CGI by 14.4% during the second quarter. GHP Investment Advisors Inc. now owns 41,348 shares of the technology company's stock worth $4,127,000 after purchasing an additional 5,213 shares during the last quarter. Hedge funds and other institutional investors own 66.68% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. UBS Group started coverage on CGI in a research report on Friday, July 19th. They issued a "neutral" rating and a $112.00 target price for the company. Cibc World Mkts upgraded shares of CGI from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 15th. CIBC raised shares of CGI from a "neutral" rating to an "outperformer" rating and lifted their target price for the company from $155.00 to $178.00 in a report on Tuesday, October 15th. Sanford C. Bernstein upgraded shares of CGI to a "strong-buy" rating in a research note on Thursday, August 1st. Finally, Jefferies Financial Group lifted their price objective on shares of CGI from $120.00 to $121.00 and gave the company a "buy" rating in a research note on Tuesday, July 16th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, CGI currently has an average rating of "Buy" and an average target price of $137.00.

CGI Trading Down 1.0 %

NYSE:GIB opened at $113.11 on Monday. 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 stock's 50 day simple moving average is $113.55 and its 200-day simple moving average is $107.13. CGI Inc. has a 12-month low of $93.07 and a 12-month high of $118.89. The firm has a market cap of $26.10 billion, a P/E ratio of 21.79, a PEG ratio of 2.41 and a beta of 0.95.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.40 EPS 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 the consensus estimate of $2.67 billion. Equities analysts anticipate that CGI Inc. will post 5.55 EPS 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.