Parallel Advisors LLC Grows Stock Holdings in CGI Inc. (NYSE:GIB)

Parallel Advisors LLC grew its stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 7.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,979 shares of the technology company’s stock after purchasing an additional 213 shares during the period. Parallel Advisors LLC’s holdings in CGI were worth $297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Norges Bank acquired a new position in CGI during the fourth quarter worth $273,239,000. Clearbridge Investments LLC acquired a new position in shares of CGI during the 4th quarter valued at about $85,909,000. Janus Henderson Group PLC grew its holdings in shares of CGI by 3,776.8% in the first quarter. Janus Henderson Group PLC now owns 699,798 shares of the technology company’s stock valued at $77,381,000 after purchasing an additional 681,747 shares during the period. TD Asset Management Inc increased its position in CGI by 29.6% during the fourth quarter. TD Asset Management Inc now owns 2,156,776 shares of the technology company’s stock worth $232,181,000 after purchasing an additional 493,145 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in CGI by 54.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 735,174 shares of the technology company’s stock worth $78,818,000 after purchasing an additional 258,651 shares during the last quarter. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

CGI Stock Down 1.6 %

CGI stock opened at $112.84 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.16. The firm has a 50 day moving average price of $109.63 and a 200 day moving average price of $106.80. CGI Inc. has a fifty-two week low of $93.07 and a fifty-two week high of $118.89. The company has a market capitalization of $26.04 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 2.67 and a beta of 0.95.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.40 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.40. CGI had a return on equity of 20.21% and a net margin of 11.51%. The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Research analysts expect that CGI Inc. will post 5.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GIB shares. UBS Group assumed coverage on shares of CGI in a research note on Friday, July 19th. They issued a “neutral” rating and a $112.00 price target for the company. Jefferies Financial Group raised their target price on CGI from $120.00 to $121.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. CIBC lowered CGI from a “sector outperform” rating to a “neutral” rating in a research note on Friday, June 21st. Finally, Sanford C. Bernstein raised CGI to a “strong-buy” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $132.67.

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.