CGI Inc. (NYSE:GIB) Shares Sold by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. lessened its stake in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 645,528 shares of the technology company’s stock after selling 7,329 shares during the quarter. Burgundy Asset Management Ltd. owned about 0.28% of CGI worth $64,402,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of CGI in the 1st quarter worth $30,000. UMB Bank n.a. grew its holdings in CGI by 9,916.7% during the first quarter. UMB Bank n.a. now owns 601 shares of the technology company’s stock worth $66,000 after acquiring an additional 595 shares during the period. CWM LLC raised its position in CGI by 19.1% in the first quarter. CWM LLC now owns 1,185 shares of the technology company’s stock worth $131,000 after acquiring an additional 190 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in CGI by 41.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,978 shares of the technology company’s stock valued at $212,000 after acquiring an additional 579 shares during the last quarter. Finally, Tidal Investments LLC acquired a new stake in CGI in the 1st quarter valued at about $226,000. Institutional investors own 66.68% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on GIB shares. UBS Group initiated coverage on shares of CGI in a report on Friday, July 19th. They issued a “neutral” rating and a $112.00 target price on the stock. Sanford C. Bernstein raised CGI to a “strong-buy” rating in a report on Thursday, August 1st. CIBC lowered CGI from a “sector outperform” rating to a “neutral” rating in a research note on Friday, June 21st. Finally, Jefferies Financial Group lifted their target price on CGI from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $132.67.

CGI Stock Down 1.6 %

GIB stock opened at $112.84 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 0.86. The firm has a market capitalization of $26.04 billion, a P/E ratio of 21.74, a P/E/G ratio of 2.67 and a beta of 0.95. CGI Inc. has a 52-week low of $93.07 and a 52-week high of $118.89. The company’s 50 day simple moving average is $109.63 and its 200-day simple moving average is $106.80.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its earnings results on Wednesday, July 31st. The technology company reported $1.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.40. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.67 billion. CGI had a net margin of 11.51% and a return on equity of 20.21%. As a group, equities research analysts anticipate that CGI Inc. will post 5.52 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.