Frank Rimerman Advisors LLC Purchases New Shares in CGI Inc. (NYSE:GIB)

Frank Rimerman Advisors LLC purchased a new position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 5,164 shares of the technology company’s stock, valued at approximately $515,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in CGI by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 480,269 shares of the technology company’s stock worth $51,490,000 after purchasing an additional 1,983 shares in the last quarter. Trexquant Investment LP acquired a new position in CGI during the fourth quarter valued at $954,000. Assetmark Inc. lifted its stake in CGI by 6,175.4% in the 4th quarter. Assetmark Inc. now owns 3,577 shares of the technology company’s stock worth $383,000 after acquiring an additional 3,520 shares in the last quarter. Hsbc Holdings PLC boosted its position in CGI by 4.1% during the 4th quarter. Hsbc Holdings PLC now owns 648,070 shares of the technology company’s stock worth $69,486,000 after acquiring an additional 25,736 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its position in CGI by 13,384.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,124 shares of the technology company’s stock worth $549,000 after acquiring an additional 5,086 shares during the period. Institutional investors and hedge funds own 66.68% of the company’s stock.

CGI Stock Up 0.7 %

CGI stock opened at $113.54 on Tuesday. 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 Inc. has a 1-year low of $93.07 and a 1-year high of $118.89. The firm’s fifty day simple moving average is $110.12 and its 200-day simple moving average is $106.67. The company has a market capitalization of $26.20 billion, a P/E ratio of 21.88, a P/E/G ratio of 2.67 and a beta of 0.95.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.40 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.40. The company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.67 billion. CGI had a return on equity of 20.21% and a net margin of 11.51%. Sell-side analysts forecast that CGI Inc. will post 5.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GIB shares. CIBC lowered shares of CGI from a “sector outperform” rating to a “neutral” rating in a research report on Friday, June 21st. Jefferies Financial Group lifted their target price on shares of CGI from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Sanford C. Bernstein upgraded shares of CGI to a “strong-buy” rating in a report on Thursday, August 1st. Finally, UBS Group assumed coverage on CGI in a research report on Friday, July 19th. They set a “neutral” rating and a $112.00 price objective for the company. Three 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $132.67.

About CGI

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.