Blue Trust Inc. Acquires 585 Shares of CGI Inc. (NYSE:GIB)

Blue Trust Inc. raised its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 288.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 788 shares of the technology company’s stock after buying an additional 585 shares during the period. Blue Trust Inc.’s holdings in CGI were worth $91,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. CWM LLC grew its position in shares of CGI by 14.8% in the third quarter. CWM LLC now owns 1,365 shares of the technology company’s stock valued at $157,000 after purchasing an additional 176 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of CGI in the first quarter valued at approximately $226,000. EverSource Wealth Advisors LLC grew its position in shares of CGI by 9.2% in the second 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. CreativeOne Wealth LLC acquired a new position in shares of CGI in the first quarter valued at approximately $228,000. Finally, XTX Topco Ltd acquired a new position in shares of CGI in the second quarter valued at approximately $230,000. Institutional investors own 66.68% of the company’s stock.

Wall Street Analysts Forecast Growth

GIB has been the topic of several research reports. Jefferies Financial Group upped their target price on CGI from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Sanford C. Bernstein raised CGI to a “strong-buy” rating in a research report on Thursday, August 1st. UBS Group assumed coverage on CGI in a research report on Friday, July 19th. They set a “neutral” rating and a $112.00 price target on the stock. CIBC raised CGI from a “neutral” rating to an “outperformer” rating and increased their price target for the stock from $155.00 to $178.00 in a research report on Tuesday, October 15th. Finally, Cibc World Mkts raised CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $137.00.

CGI Trading Up 0.2 %

Shares of GIB stock opened at $114.14 on Wednesday. The stock’s fifty day moving average price is $113.73 and its two-hundred day moving average price is $107.26. The company has a market cap of $26.34 billion, a PE ratio of 21.99, a P/E/G ratio of 2.41 and a beta of 0.95. CGI Inc. has a fifty-two week low of $93.57 and a fifty-two week high of $118.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.16.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, July 31st. The technology company reported $1.40 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.40. The firm 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%. Equities analysts predict that CGI Inc. will post 5.55 EPS for the current fiscal 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.