Oppenheimer Asset Management Inc. Purchases 331 Shares of CGI Inc. (NYSE:GIB)

Oppenheimer Asset Management Inc. increased its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 15.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,488 shares of the technology company’s stock after purchasing an additional 331 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in CGI were worth $248,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of GIB. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of CGI in the 1st quarter valued at about $30,000. UMB Bank n.a. raised its holdings in shares of CGI by 9,916.7% in the 1st quarter. UMB Bank n.a. now owns 601 shares of the technology company’s stock valued at $66,000 after purchasing an additional 595 shares during the period. CWM LLC raised its holdings in CGI by 19.1% in the 1st quarter. CWM LLC now owns 1,185 shares of the technology company’s stock valued at $131,000 after acquiring an additional 190 shares during the period. EverSource Wealth Advisors LLC raised 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 period. Finally, Tidal Investments LLC bought a new position in CGI in the 1st quarter valued at about $226,000. 66.68% of the stock is owned by institutional investors.

CGI Stock Performance

Shares of NYSE:GIB opened at $112.76 on Friday. The company’s 50 day moving average price is $109.95 and its two-hundred day moving average price is $106.77. 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 $26.02 billion, a PE ratio of 21.73, a PEG ratio of 2.67 and a beta of 0.95. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.22.

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, hitting analysts’ consensus estimates of $1.40. CGI had a net margin of 11.51% and a return on equity of 20.21%. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.67 billion. Equities research analysts predict that CGI Inc. will post 5.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GIB shares. CIBC cut shares of CGI from a “sector outperform” rating to a “neutral” rating in a report on Friday, June 21st. Sanford C. Bernstein raised shares of CGI to a “strong-buy” rating in a report on Thursday, August 1st. UBS Group started coverage on shares of CGI in a report on Friday, July 19th. They issued a “neutral” rating and a $112.00 price target on the stock. Finally, Jefferies Financial Group increased their price target on shares of CGI from $120.00 to $121.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $132.67.

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.