Cwm LLC Buys 176 Shares of CGI Inc. (NYSE:GIB)

Cwm LLC increased its stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 14.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,365 shares of the technology company’s stock after purchasing an additional 176 shares during the quarter. Cwm LLC’s holdings in CGI were worth $157,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GIB. Dixon Mitchell Investment Counsel Inc. purchased a new position in CGI during the 1st quarter valued at about $30,000. EverSource Wealth Advisors LLC lifted its holdings 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 worth $205,000 after buying an additional 173 shares in the last quarter. Tidal Investments LLC bought a new position in shares of CGI in the first quarter valued at approximately $226,000. CreativeOne Wealth LLC purchased a new position in CGI during the first quarter valued at approximately $228,000. Finally, XTX Topco Ltd bought a new stake in CGI during the 2nd quarter worth approximately $230,000. 66.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on GIB. Jefferies Financial Group raised their price target on shares of CGI from $120.00 to $121.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Cibc World Mkts raised CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. CIBC upgraded CGI from a “neutral” rating to an “outperformer” rating and upped their target price for the stock from $155.00 to $178.00 in a research note on Tuesday, October 15th. UBS Group initiated coverage on CGI in a research report on Friday, July 19th. They set a “neutral” rating and a $112.00 price target for the company. Finally, Sanford C. Bernstein raised CGI to a “strong-buy” rating in a report on Thursday, August 1st. Two investment 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $137.00.

CGI Stock Up 0.1 %

GIB opened at $113.99 on Thursday. The business’s fifty day simple moving average is $113.35 and its 200 day simple moving average is $107.02. CGI Inc. has a 52 week low of $93.07 and a 52 week 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 stock has a market cap of $26.31 billion, a PE ratio of 21.96, a P/E/G ratio of 2.45 and a beta of 0.95.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.40 EPS for the quarter, meeting the consensus estimate of $1.40. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.67 billion. CGI had a return on equity of 20.21% and a net margin of 11.51%. As a group, research analysts expect that CGI Inc. will post 5.55 earnings per share for the current fiscal 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.