Crossmark Global Holdings Inc. trimmed its position in shares of CGI Inc (NYSE:GIB) (TSE:GIB.A) by 1.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,245 shares of the technology company’s stock after selling 622 shares during the period. Crossmark Global Holdings Inc.’s holdings in CGI were worth $3,243,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GIB. United Services Automobile Association grew its position in CGI by 10.1% in the fourth quarter. United Services Automobile Association now owns 13,631 shares of the technology company’s stock valued at $834,000 after acquiring an additional 1,245 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of CGI by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 192,719 shares of the technology company’s stock worth $11,792,000 after purchasing an additional 3,974 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of CGI by 12.2% during the fourth quarter. Bank of America Corp DE now owns 570,160 shares of the technology company’s stock worth $34,889,000 after purchasing an additional 61,829 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new stake in shares of CGI during the fourth quarter worth about $735,000. Finally, Legal & General Group Plc grew its holdings in shares of CGI by 4.6% during the fourth quarter. Legal & General Group Plc now owns 1,205,800 shares of the technology company’s stock worth $73,716,000 after purchasing an additional 52,815 shares during the last quarter. 58.05% of the stock is owned by institutional investors and hedge funds.
NYSE:GIB traded up $1.27 during trading on Friday, reaching $77.86. The company’s stock had a trading volume of 145,500 shares, compared to its average volume of 157,454. The firm has a market cap of $20.37 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 2.27 and a beta of 0.54. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.75 and a current ratio of 1.09. The firm has a 50 day moving average of $77.80 and a 200-day moving average of $72.25. CGI Inc has a 12 month low of $57.35 and a 12 month high of $80.50.
Several research firms have recently weighed in on GIB. CIBC cut CGI from a “sector outperform” rating to a “neutral” rating in a report on Thursday, April 25th. Bank of America initiated coverage on CGI in a report on Thursday, May 23rd. They issued a “buy” rating and a $83.00 target price on the stock. Zacks Investment Research lowered CGI from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. National Bank Financial reaffirmed a “buy” rating on shares of CGI in a research report on Wednesday, July 31st. Finally, Societe Generale lowered CGI from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. CGI presently has an average rating of “Buy” and an average target price of $87.67.
CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.
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