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

DekaBank Deutsche Girozentrale lessened its position in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 0.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 924,054 shares of the technology company's stock after selling 5,021 shares during the period. DekaBank Deutsche Girozentrale owned 0.40% of CGI worth $105,328,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of CGI by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 7,603,481 shares of the technology company's stock valued at $840,109,000 after purchasing an additional 64,037 shares in the last quarter. Fiera Capital Corp boosted its position 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 in the last quarter. TD Asset Management Inc boosted its position in shares of CGI by 2.0% during the 2nd quarter. TD Asset Management Inc now owns 2,203,320 shares of the technology company's stock valued at $219,873,000 after purchasing an additional 43,355 shares in the last quarter. Cibc World Market Inc. boosted its position in shares of CGI by 6.2% during the 2nd quarter. Cibc World Market Inc. now owns 1,803,131 shares of the technology company's stock valued at $180,025,000 after purchasing an additional 105,817 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of CGI by 3,776.8% during the 1st quarter. Janus Henderson Group PLC now owns 699,798 shares of the technology company's stock valued at $77,381,000 after purchasing an additional 681,747 shares in the last quarter. Institutional investors and hedge funds own 66.68% of the company's stock.

Analyst Ratings Changes

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

CGI Stock Up 0.7 %

Shares of CGI stock traded up $0.81 during midday trading on Monday, hitting $113.92. The company had a trading volume of 106,916 shares, compared to its average volume of 148,416. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.16. The stock has a market capitalization of $26.29 billion, a P/E ratio of 21.95, a P/E/G ratio of 2.41 and a beta of 0.95. The company has a 50 day moving average of $113.55 and a 200 day moving average of $107.13. CGI Inc. has a 52-week low of $93.57 and a 52-week high of $118.89.

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