Intech Investment Management LLC Invests $5.53 Million in CGI Inc. (NYSE:GIB)

Intech Investment Management LLC purchased a new position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 50,075 shares of the technology company’s stock, valued at approximately $5,529,000.

Several other hedge funds have also made changes to their positions in GIB. Vanguard Group Inc. raised its holdings in CGI by 1.8% in the third quarter. Vanguard Group Inc. now owns 7,578,327 shares of the technology company’s stock valued at $746,389,000 after acquiring an additional 132,166 shares in the last quarter. Assetmark Inc. raised its holdings in CGI by 6,175.4% in the fourth quarter. Assetmark Inc. now owns 3,577 shares of the technology company’s stock valued at $383,000 after acquiring an additional 3,520 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in CGI in the fourth quarter valued at approximately $1,409,000. Goldman Sachs Group Inc. raised its holdings in CGI by 54.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 735,174 shares of the technology company’s stock valued at $78,818,000 after acquiring an additional 258,651 shares in the last quarter. Finally, Trexquant Investment LP acquired a new stake in CGI in the fourth quarter valued at approximately $954,000. Institutional investors and hedge funds own 66.68% of the company’s stock.

Analyst Upgrades and Downgrades

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

CGI Price Performance

Shares of NYSE GIB traded down $0.58 during trading on Friday, hitting $105.87. 99,004 shares of the company were exchanged, compared to its average volume of 155,769. The company has a market cap of $24.43 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 2.45 and a beta of 0.95. CGI Inc. has a 1 year low of $93.07 and a 1 year high of $118.89. The firm’s fifty day moving average price is $102.06 and its 200 day moving average price is $106.92. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.17 and a quick ratio of 0.86.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, May 1st. The technology company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.44 by $0.02. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.79 billion. CGI had a net margin of 11.38% and a return on equity of 20.43%. On average, sell-side analysts expect that CGI Inc. will post 5.58 earnings per share for the current fiscal year.

CGI Company Profile

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.