Allspring Global Investments Holdings LLC purchased a new stake in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 39,407 shares of the technology company's stock, valued at approximately $4,539,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of CGI during the 1st quarter valued at about $30,000. Blue Trust Inc. raised its holdings in shares of CGI by 288.2% during the 3rd quarter. Blue Trust Inc. now owns 788 shares of the technology company's stock valued at $91,000 after buying an additional 585 shares in the last quarter. CWM LLC raised its holdings in shares of CGI by 14.8% during the 3rd quarter. CWM LLC now owns 1,365 shares of the technology company's stock valued at $157,000 after buying an additional 176 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of CGI by 9.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company's stock valued at $205,000 after buying an additional 173 shares in the last quarter. Finally, Werba Rubin Papier Wealth Management purchased a new position in shares of CGI during the 3rd quarter valued at about $208,000. Hedge funds and other institutional investors own 66.68% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently issued reports on GIB. Cibc World Mkts upgraded CGI from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 15th. CIBC upgraded CGI from a "neutral" rating to an "outperformer" rating and raised their price target for the stock from $155.00 to $178.00 in a research report on Tuesday, October 15th. UBS Group began coverage on CGI in a research report on Friday, July 19th. They set a "neutral" rating and a $112.00 price target on the stock. Jefferies Financial Group raised their price target on CGI from $120.00 to $121.00 and gave the stock a "buy" rating in a research report on Tuesday, July 16th. Finally, Sanford C. Bernstein upgraded CGI to a "strong-buy" rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $137.00.
View Our Latest Analysis on GIB
CGI Trading Up 0.2 %
Shares of GIB stock traded up $0.26 during trading hours on Tuesday, reaching $114.14. The company's stock had a trading volume of 98,261 shares, compared to its average volume of 148,176. The stock has a market capitalization of $26.34 billion, a P/E ratio of 21.99, a P/E/G ratio of 2.41 and a beta of 0.95. CGI Inc. has a one year low of $93.57 and a one year high of $118.89. The firm's fifty day simple moving average is $113.64 and its 200 day simple moving average is $107.19. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22.
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 for the quarter, hitting analysts' consensus estimates of $1.40. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.67 billion. CGI had a return on equity of 20.21% and a net margin of 11.51%. Equities research analysts expect that CGI Inc. will post 5.55 EPS for the current year.
CGI Company Profile
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Free Report)
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.
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