DekaBank Deutsche Girozentrale Sells 9,083 Shares of CGI Inc. (NYSE:GIB)

DekaBank Deutsche Girozentrale lessened its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 2.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 409,948 shares of the technology company’s stock after selling 9,083 shares during the period. DekaBank Deutsche Girozentrale’s holdings in CGI were worth $32,840,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Cresset Asset Management LLC raised its holdings in CGI by 2.7% in the fourth quarter. Cresset Asset Management LLC now owns 4,881 shares of the technology company’s stock worth $387,000 after purchasing an additional 127 shares in the last quarter. Barclays PLC raised its holdings in CGI by 22.3% in the fourth quarter. Barclays PLC now owns 2,043 shares of the technology company’s stock worth $162,000 after purchasing an additional 372 shares in the last quarter. Freedman Financial Associates Inc. bought a new position in CGI in the fourth quarter worth $30,000. International Assets Investment Management LLC bought a new position in CGI in the fourth quarter worth $41,000. Finally, Comerica Bank raised its holdings in CGI by 4.8% in the fourth quarter. Comerica Bank now owns 12,534 shares of the technology company’s stock worth $990,000 after purchasing an additional 574 shares in the last quarter. Institutional investors and hedge funds own 51.30% of the company’s stock.

CGI stock opened at $84.70 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.35 and a quick ratio of 1.06. CGI Inc. has a one year low of $56.10 and a one year high of $85.13. The stock has a market capitalization of $21.49 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 2.33 and a beta of 1.03. The business’s fifty day moving average is $79.67 and its 200 day moving average is $75.07.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings data on Tuesday, January 26th. The technology company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.24 by $0.09. CGI had a return on equity of 18.58% and a net margin of 9.20%. The company had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same period last year, the firm posted $1.23 earnings per share. CGI’s revenue was down 1.2% compared to the same quarter last year. As a group, sell-side analysts expect that CGI Inc. will post 4.04 EPS for the current fiscal year.

GIB has been the subject of a number of research reports. Scotiabank increased their price objective on CGI from $102.00 to $106.00 and gave the stock an “outperform” rating in a report on Thursday, January 28th. CIBC increased their target price on CGI from $91.50 to $105.50 and gave the stock a “neutral” rating in a research note on Wednesday, January 6th. Desjardins reissued a “buy” rating on shares of CGI in a research note on Tuesday, March 23rd. Barclays increased their target price on CGI from $80.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, February 1st. Finally, Edward Jones raised CGI from a “hold” rating to a “buy” rating in a research note on Wednesday, March 10th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. CGI presently has a consensus rating of “Buy” and a consensus price target of $106.14.

About CGI

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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Institutional Ownership by Quarter for CGI (NYSE:GIB)

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