Assenagon Asset Management S.A. boosted its stake in CGI Inc (NYSE:GIB) (TSE:GIB.A) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,769 shares of the technology company’s stock after acquiring an additional 300 shares during the period. Assenagon Asset Management S.A.’s holdings in CGI were worth $2,276,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Zions Bancorporation N.A. acquired a new position in CGI in the 2nd quarter valued at about $28,000. Ladenburg Thalmann Financial Services Inc. increased its position in CGI by 30.2% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 560 shares of the technology company’s stock worth $43,000 after purchasing an additional 130 shares during the period. NEXT Financial Group Inc acquired a new position in CGI during the 2nd quarter worth approximately $76,000. Marshall Wace LLP acquired a new position in CGI during the 1st quarter worth approximately $110,000. Finally, Neuburgh Advisers LLC increased its position in CGI by 13.6% during the 2nd quarter. Neuburgh Advisers LLC now owns 2,000 shares of the technology company’s stock worth $148,000 after purchasing an additional 240 shares during the period. Hedge funds and other institutional investors own 55.19% of the company’s stock.
Several research firms have issued reports on GIB. ValuEngine cut CGI from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Desjardins upgraded CGI from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Zacks Investment Research cut CGI from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Societe Generale cut CGI from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, National Bank Financial reiterated a “buy” rating on shares of CGI in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $88.25.
NYSE GIB opened at $77.65 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $78.15 and its two-hundred day moving average is $75.59. CGI Inc has a 12-month low of $57.35 and a 12-month high of $80.59. The stock has a market capitalization of $21.04 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 2.16 and a beta of 0.53.
CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.91 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.01). The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.15 billion. CGI had a return on equity of 18.78% and a net margin of 10.32%. CGI’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the firm earned $1.08 EPS. Equities analysts forecast that CGI Inc will post 3.58 earnings per share for the current fiscal year.
CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.
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