CGI Inc. (NYSE:GIB) Stock Position Lowered by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC lessened its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 2.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 88,220 shares of the technology company’s stock after selling 2,515 shares during the period. O Shaughnessy Asset Management LLC’s holdings in CGI were worth $9,745,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Assetmark Inc. grew its holdings in shares of CGI by 6,175.4% in the 4th quarter. Assetmark Inc. now owns 3,577 shares of the technology company’s stock worth $383,000 after acquiring an additional 3,520 shares during the last quarter. Prime Capital Investment Advisors LLC acquired a new position in shares of CGI in the 4th quarter worth $1,409,000. Goldman Sachs Group Inc. grew its holdings in shares of CGI by 54.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 735,174 shares of the technology company’s stock worth $78,818,000 after acquiring an additional 258,651 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of CGI in the 4th quarter worth $954,000. Finally, Intech Investment Management LLC acquired a new position in shares of CGI in the 1st quarter worth $5,529,000. Institutional investors own 66.68% of the company’s stock.

Analyst Upgrades and Downgrades

GIB has been the topic of a number of research analyst reports. Jefferies Financial Group lifted their price target on CGI from $120.00 to $121.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. UBS Group initiated coverage on CGI in a report on Friday, July 19th. They set a “neutral” rating and a $112.00 price target on the stock. TD Securities upgraded CGI from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd. Finally, CIBC cut CGI from a “sector outperform” rating to a “neutral” rating in a research report on Friday, June 21st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $132.67.

CGI Stock Down 0.0 %

GIB traded down $0.05 during trading on Wednesday, reaching $107.45. 83,308 shares of the stock traded hands, compared to its average volume of 154,398. The stock has a market cap of $24.80 billion, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 2.49 and a beta of 0.95. CGI Inc. has a fifty-two week low of $93.07 and a fifty-two week high of $118.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.17 and a quick ratio of 0.86. The stock’s 50-day simple moving average is $102.28 and its two-hundred day simple moving average is $107.03.

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

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.