Creative Planning Increases Stake in CGI Inc. (NYSE:GIB)

Creative Planning raised its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 16.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,179 shares of the technology company’s stock after acquiring an additional 3,490 shares during the quarter. Creative Planning’s holdings in CGI were worth $2,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in GIB. Vanguard Group Inc. boosted its stake in CGI by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 7,603,481 shares of the technology company’s stock worth $840,109,000 after purchasing an additional 64,037 shares during the period. Fiera Capital Corp boosted its position in shares of CGI by 1.9% in the second quarter. Fiera Capital Corp now owns 4,269,775 shares of the technology company’s stock valued at $426,353,000 after acquiring an additional 79,303 shares during the period. TD Asset Management Inc grew its stake in CGI by 2.0% during the second quarter. TD Asset Management Inc now owns 2,203,320 shares of the technology company’s stock valued at $219,873,000 after acquiring an additional 43,355 shares in the last quarter. Cibc World Market Inc. increased its holdings in CGI by 6.2% during the 2nd quarter. Cibc World Market Inc. now owns 1,803,131 shares of the technology company’s stock worth $180,025,000 after acquiring an additional 105,817 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in CGI by 3,776.8% in the 1st quarter. Janus Henderson Group PLC now owns 699,798 shares of the technology company’s stock worth $77,381,000 after purchasing an additional 681,747 shares in the last quarter. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Stock Performance

NYSE GIB opened at $113.11 on Friday. The company has a 50-day simple moving average of $113.55 and a two-hundred day simple moving average of $107.11. CGI Inc. has a 12-month low of $93.07 and a 12-month high of $118.89. The firm has a market cap of $25.78 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 2.41 and a beta of 0.95. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.22.

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 the consensus estimate of $1.40. CGI had a return on equity of 20.21% and a net margin of 11.51%. The company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.67 billion. On average, equities analysts forecast that CGI Inc. will post 5.55 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on GIB. Jefferies Financial Group upped their price target 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 upgraded CGI to a “strong-buy” rating in a research note on Thursday, August 1st. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. UBS Group began coverage on CGI in a research note on Friday, July 19th. They issued a “neutral” rating and a $112.00 target price on the stock. Finally, CIBC upgraded CGI from a “neutral” rating to an “outperformer” rating and boosted their target price for the stock from $155.00 to $178.00 in a research report on Tuesday, October 15th. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $137.00.

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.