Dimensional Fund Advisors LP Raises Stock Position in CGI Inc. (NYSE:GIB)

Dimensional Fund Advisors LP lifted its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 22.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 625,106 shares of the technology company’s stock after purchasing an additional 113,903 shares during the period. Dimensional Fund Advisors LP owned about 0.27% of CGI worth $62,394,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Walter Public Investments Inc. raised its stake in CGI by 4.0% during the 2nd quarter. Walter Public Investments Inc. now owns 206,214 shares of the technology company’s stock valued at $20,575,000 after acquiring an additional 8,004 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of CGI by 15.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,488 shares of the technology company’s stock valued at $248,000 after purchasing an additional 331 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of CGI by 7.7% during the 2nd quarter. Parallel Advisors LLC now owns 2,979 shares of the technology company’s stock worth $297,000 after acquiring an additional 213 shares in the last quarter. GHP Investment Advisors Inc. raised its stake in shares of CGI by 14.4% during the 2nd quarter. GHP Investment Advisors Inc. now owns 41,348 shares of the technology company’s stock worth $4,127,000 after buying an additional 5,213 shares during the last quarter. Finally, Achmea Investment Management B.V. increased its stake in shares of CGI by 4.6% during the 2nd quarter. Achmea Investment Management B.V. now owns 134,172 shares of the technology company’s stock worth $13,389,000 after purchasing an additional 5,867 shares in the last quarter. 66.68% of the stock is owned by institutional investors and hedge funds.

CGI Trading Down 1.9 %

GIB opened at $114.22 on Friday. 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 firm’s 50 day moving average is $110.60 and its 200-day moving average is $106.77. The firm has a market capitalization of $26.36 billion, a P/E ratio of 22.01, a P/E/G ratio of 2.63 and a beta of 0.95. CGI Inc. has a 52-week low of $93.07 and a 52-week high of $118.89.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.40 earnings per share (EPS) for the quarter, hitting 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 return on equity of 20.21% and a net margin of 11.51%. Analysts expect that CGI Inc. will post 5.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GIB shares. CIBC cut shares of CGI from a “sector outperform” rating to a “neutral” rating in a research note on Friday, June 21st. Jefferies Financial Group increased their price objective on shares of CGI from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Sanford C. Bernstein raised shares of CGI to a “strong-buy” rating in a research report on Thursday, August 1st. Finally, UBS Group assumed coverage on shares of CGI in a research report on Friday, July 19th. They set a “neutral” rating and a $112.00 price target for the company. Three research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.