Bank of Montreal Can Sells 100,095 Shares of CGI Inc. (NYSE:GIB)

Bank of Montreal Can reduced its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 3.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,171,121 shares of the technology company’s stock after selling 100,095 shares during the period. Bank of Montreal Can owned 1.37% of CGI worth $332,893,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GIB. Evergreen Capital Management LLC increased its position in CGI by 6.7% in the second quarter. Evergreen Capital Management LLC now owns 3,437 shares of the technology company’s stock worth $343,000 after purchasing an additional 215 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of CGI by 9.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock valued at $205,000 after purchasing an additional 173 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of CGI during the 2nd quarter worth approximately $515,000. Skandinaviska Enskilda Banken AB publ raised its stake in shares of CGI by 12.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 30,967 shares of the technology company’s stock worth $3,091,000 after buying an additional 3,404 shares during the last quarter. Finally, Promethos Capital LLC lifted its holdings in CGI by 24.0% in the second quarter. Promethos Capital LLC now owns 84,444 shares of the technology company’s stock valued at $8,424,000 after buying an additional 16,317 shares during the period. Institutional investors own 66.68% of the company’s stock.

CGI Trading Down 0.9 %

Shares of NYSE GIB opened at $112.76 on Monday. CGI Inc. has a twelve month low of $93.07 and a twelve month high of $118.89. The stock has a market cap of $26.02 billion, a price-to-earnings ratio of 21.73, a P/E/G 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. The company’s fifty day moving average is $109.95 and its 200-day moving average is $106.71.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its earnings results on Wednesday, July 31st. The technology company reported $1.40 earnings per share for the quarter, hitting the consensus estimate of $1.40. CGI had a return on equity of 20.21% and a net margin of 11.51%. 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 EPS for the current year.

Analyst Ratings Changes

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