CGI Inc. (NYSE:GIB) Stock Holdings Cut by Shell Asset Management Co.

Shell Asset Management Co. reduced its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 1.5% in the first quarter, HoldingsChannel.com reports. The firm owned 6,352 shares of the technology company’s stock after selling 100 shares during the period. Shell Asset Management Co.’s holdings in CGI were worth $701,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC boosted its stake in shares of CGI by 297.1% during the 4th quarter. Hexagon Capital Partners LLC now owns 270 shares of the technology company’s stock worth $29,000 after acquiring an additional 202 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of CGI during the 1st quarter worth $30,000. UMB Bank n.a. boosted its stake in shares of CGI by 9,916.7% during the 1st quarter. UMB Bank n.a. now owns 601 shares of the technology company’s stock worth $66,000 after acquiring an additional 595 shares in the last quarter. CWM LLC boosted its stake in shares of CGI by 19.1% during the 1st quarter. CWM LLC now owns 1,185 shares of the technology company’s stock worth $131,000 after acquiring an additional 190 shares in the last quarter. Finally, Tritonpoint Wealth LLC bought a new stake in shares of CGI during the 4th quarter worth $205,000. 66.68% of the stock is owned by institutional investors.

CGI Stock Performance

GIB stock opened at $108.81 on Friday. The firm has a 50 day moving average of $102.48 and a two-hundred day moving average of $107.07. CGI Inc. has a 12 month low of $93.07 and a 12 month high of $118.89. The company has a market capitalization of $25.11 billion, a price-to-earnings ratio of 20.97, a P/E/G ratio of 2.50 and a beta of 0.95. The company has a quick ratio of 0.86, a current ratio of 1.17 and a debt-to-equity ratio of 0.22.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its earnings results on Wednesday, May 1st. The technology company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.44 by $0.02. CGI had a net margin of 11.38% and a return on equity of 20.43%. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.79 billion. As a group, equities analysts anticipate that CGI Inc. will post 5.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GIB shares. TD Securities raised CGI from a “hold” rating to a “buy” rating in a research note on Thursday, May 2nd. Jefferies Financial Group raised their price objective on CGI from $120.00 to $121.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. UBS Group initiated coverage on CGI in a report on Friday, July 19th. They issued a “neutral” rating and a $112.00 target price for the company. Finally, CIBC lowered CGI from a “sector outperform” rating to a “neutral” rating in a report on Friday, June 21st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $132.67.

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.