CGI Inc. (NYSE:GIB) is New South Capital Management Inc.’s 10th Largest Position

New South Capital Management Inc. lowered its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 0.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,159,047 shares of the technology company’s stock after selling 10,861 shares during the period. CGI comprises about 2.9% of New South Capital Management Inc.’s holdings, making the stock its 10th largest position. New South Capital Management Inc. owned 0.47% of CGI worth $105,010,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Intercontinental Wealth Advisors LLC lifted its stake in shares of CGI by 1.6% during the 2nd quarter. Intercontinental Wealth Advisors LLC now owns 7,593 shares of the technology company’s stock worth $689,000 after purchasing an additional 116 shares during the period. Quadrant Capital Group LLC increased its stake in shares of CGI by 9.3% in the first quarter. Quadrant Capital Group LLC now owns 1,469 shares of the technology company’s stock valued at $122,000 after purchasing an additional 125 shares during the period. First Mercantile Trust Co. increased its stake in shares of CGI by 19.4% during the first quarter. First Mercantile Trust Co. now owns 1,015 shares of the technology company’s stock valued at $84,000 after acquiring an additional 165 shares during the period. Westpac Banking Corp grew its position in CGI by 0.8% in the first quarter. Westpac Banking Corp now owns 21,514 shares of the technology company’s stock worth $2,252,000 after buying an additional 179 shares during the last quarter. Finally, Arkadios Wealth Advisors boosted its stake in CGI by 100.0% in the 2nd quarter. Arkadios Wealth Advisors now owns 408 shares of the technology company’s stock worth $36,000 after purchasing an additional 204 shares during the period. Hedge funds and other institutional investors own 51.93% of the company’s stock.

NYSE GIB traded up $0.70 during trading hours on Tuesday, hitting $88.91. The company had a trading volume of 461 shares, compared to its average volume of 143,358. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.09 and a quick ratio of 0.83. The firm’s 50 day moving average is $90.00 and its 200 day moving average is $88.20. The company has a market capitalization of $22.04 billion, a price-to-earnings ratio of 22.76, a P/E/G ratio of 2.59 and a beta of 1.03. CGI Inc. has a fifty-two week low of $60.58 and a fifty-two week high of $93.06.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings results on Tuesday, July 27th. The technology company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.07 by $0.29. CGI had a net margin of 10.61% and a return on equity of 19.58%. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.46 billion. On average, equities analysts anticipate that CGI Inc. will post 4.29 EPS for the current year.

A number of equities analysts have commented on GIB shares. Canaccord Genuity boosted their price target on shares of CGI from C$120.00 to C$125.00 and gave the company a “buy” rating in a research report on Thursday, July 29th. Bank of America lowered shares of CGI from a “buy” rating to an “underperform” rating and raised their price target for the stock from $93.00 to $95.00 in a research report on Tuesday, September 14th. National Bank Financial raised their price target on shares of CGI from C$120.00 to C$135.00 and gave the company an “outperform” rating in a research note on Thursday, July 22nd. BMO Capital Markets lifted their price objective on shares of CGI from C$121.00 to C$128.00 and gave the company an “outperform” rating in a research note on Friday, July 23rd. Finally, Raymond James boosted their price target on shares of CGI from C$120.00 to C$129.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $118.17.

About CGI

CGI, Inc engages in the provision of information technology (IT) and consulting services. It operates through the following segments: Northern Europe, Canada, France, U.S. Commercial and State Government, U.S. Federal, U.K., Eastern, Central and Southern Europe (ECS) and Asia Pacific Global Delivery Centers of Excellence (APC).

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Institutional Ownership by Quarter for CGI (NYSE:GIB)

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