UBS Asset Management Americas Inc. increased its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,546,655 shares of the technology company’s stock after acquiring an additional 7,596 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 0.61% of CGI worth $122,603,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund grew its position in CGI by 510.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 10,743 shares of the technology company’s stock worth $853,000 after purchasing an additional 8,982 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of CGI by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 292,538 shares of the technology company’s stock worth $23,201,000 after buying an additional 2,216 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of CGI by 5.8% during the fourth quarter. Hsbc Holdings PLC now owns 220,206 shares of the technology company’s stock worth $17,527,000 after buying an additional 12,129 shares during the last quarter. WCM Investment Management LLC acquired a new position in CGI in the 4th quarter valued at about $225,000. Finally, Intercontinental Wealth Advisors LLC raised its stake in CGI by 41.2% during the 4th quarter. Intercontinental Wealth Advisors LLC now owns 6,974 shares of the technology company’s stock valued at $553,000 after acquiring an additional 2,036 shares during the last quarter. 51.30% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on the company. TD Securities boosted their target price on CGI from $110.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, January 28th. Edward Jones raised shares of CGI from a “hold” rating to a “buy” rating in a research note on Wednesday, March 10th. Canaccord Genuity raised their target price on shares of CGI from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, January 28th. Zacks Investment Research lowered shares of CGI from a “buy” rating to a “hold” rating in a research note on Thursday, January 28th. Finally, Royal Bank of Canada increased their price target on shares of CGI from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Thursday, January 28th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. CGI currently has an average rating of “Buy” and a consensus target price of $106.14.
CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings data on Tuesday, January 26th. The technology company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.09. The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.02 billion. CGI had a net margin of 9.20% and a return on equity of 18.58%. CGI’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.23 earnings per share. On average, sell-side analysts predict that CGI Inc. will post 4.04 earnings per share for the current year.
CGI Company Profile
CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada; Western, Southern, Central, and Eastern Europe; Australia; Scandinavia; Finland, Poland, and Baltics; the United States; the United Kingdom; 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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