Voya Investment Management LLC Trims Stock Position in CGI Inc (NYSE:GIB)

Voya Investment Management LLC lessened its holdings in CGI Inc (NYSE:GIB) (TSE:GIB.A) by 3.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,250 shares of the technology company’s stock after selling 676 shares during the period. Voya Investment Management LLC’s holdings in CGI were worth $1,365,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Jane Street Group LLC grew its position in CGI by 651.5% during the second quarter. Jane Street Group LLC now owns 75,363 shares of the technology company’s stock valued at $5,786,000 after buying an additional 65,335 shares during the period. WCM Investment Management LLC purchased a new position in shares of CGI during the 2nd quarter worth $204,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of CGI by 1.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,828 shares of the technology company’s stock valued at $10,352,000 after acquiring an additional 1,245 shares during the period. Fisher Asset Management LLC bought a new stake in shares of CGI during the 3rd quarter valued at $208,000. Finally, AXA increased its stake in shares of CGI by 35.3% in the 2nd quarter. AXA now owns 245,874 shares of the technology company’s stock worth $18,875,000 after purchasing an additional 64,100 shares in the last quarter. Hedge funds and other institutional investors own 55.69% of the company’s stock.

A number of equities analysts recently commented on the company. Barclays began coverage on CGI in a report on Friday, September 20th. They issued an “overweight” rating and a $90.00 target price on the stock. ValuEngine raised CGI from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. Desjardins raised CGI from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Raymond James set a $110.00 price target on CGI and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Zacks Investment Research downgraded CGI from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $95.60.

GIB opened at $82.63 on Wednesday. The firm has a market cap of $22.11 billion, a P/E ratio of 23.34, a PEG ratio of 2.24 and a beta of 0.53. CGI Inc has a 1-year low of $57.35 and a 1-year high of $83.64. The company has a 50 day simple moving average of $80.65 and a two-hundred day simple moving average of $78.07. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.13 and a quick ratio of 0.75.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, November 6th. The technology company reported $1.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.29. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $2.99 billion. CGI had a net margin of 10.43% and a return on equity of 19.04%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.09 earnings per share. Equities analysts anticipate that CGI Inc will post 3.94 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, 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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Institutional Ownership by Quarter for CGI (NYSE:GIB)

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