MQS Management LLC Purchases New Position in CGI Inc. (NYSE:GIB)

MQS Management LLC acquired a new position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,744 shares of the technology company’s stock, valued at approximately $773,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of CGI in the 1st quarter worth approximately $30,000. UMB Bank n.a. lifted its position in CGI by 9,916.7% during the 1st quarter. UMB Bank n.a. now owns 601 shares of the technology company’s stock valued at $66,000 after acquiring an additional 595 shares during the period. CWM LLC lifted its position in CGI by 19.1% during 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 boosted its stake in CGI by 41.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,978 shares of the technology company’s stock worth $212,000 after acquiring an additional 579 shares in the last quarter. Finally, Tidal Investments LLC purchased a new stake in CGI in the first quarter worth about $226,000. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

CGI Stock Down 1.6 %

Shares of CGI stock opened at $112.84 on Thursday. CGI Inc. has a twelve month low of $93.07 and a twelve month high of $118.89. 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 50 day moving average is $109.63 and its 200 day moving average is $106.80. The company has a market cap of $26.04 billion, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 2.67 and a beta of 0.95.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.40 earnings per share for the quarter, meeting the consensus estimate of $1.40. The firm had revenue of $2.68 billion for 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%. Research analysts anticipate that CGI Inc. will post 5.52 EPS for the current year.

CGI 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.