GHP Investment Advisors Inc. Purchases 1,717 Shares of CGI Inc. (NYSE:GIB)

GHP Investment Advisors Inc. lifted its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 4.2% during the third quarter, Holdings Channel reports. The firm owned 43,065 shares of the technology company’s stock after acquiring an additional 1,717 shares during the period. GHP Investment Advisors Inc.’s holdings in CGI were worth $4,951,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Sanford C. Bernstein upgraded shares of CGI to a “strong-buy” rating in a research note on Thursday, August 1st. UBS Group started coverage on shares of CGI in a report on Friday, July 19th. They issued a “neutral” rating and a $112.00 price target on the stock. Jefferies Financial Group increased their price objective on CGI from $120.00 to $121.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, CIBC upgraded CGI from a “neutral” rating to an “outperformer” rating and boosted their target price for the company from $155.00 to $178.00 in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $137.00.

CGI Stock Down 1.0 %

GIB opened at $113.11 on Friday. The company has a 50 day moving average of $113.55 and a 200 day moving average of $107.11. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22. CGI Inc. has a 12 month low of $93.07 and a 12 month high of $118.89. The company has a market cap of $25.78 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 2.41 and a beta of 0.95.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.40 EPS for the quarter, hitting analysts’ consensus estimates of $1.40. CGI had a return on equity of 20.21% and a net margin of 11.51%. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. On average, sell-side analysts expect that CGI Inc. will post 5.55 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.