APG Asset Management N.V. Buys 62,649 Shares of CGI Inc. (NYSE:GIB)

APG Asset Management N.V. grew its stake in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 32.4% during the second quarter, HoldingsChannel reports. The firm owned 256,013 shares of the technology company’s stock after purchasing an additional 62,649 shares during the quarter. APG Asset Management N.V.’s holdings in CGI were worth $23,837,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Steward Partners Investment Advisory LLC raised its holdings in CGI by 13,384.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,124 shares of the technology company’s stock worth $549,000 after purchasing an additional 5,086 shares in the last quarter. Pinebridge Investments L.P. purchased a new position in CGI during the 4th quarter valued at about $421,000. Prudential PLC boosted its stake in CGI by 20.9% during the fourth quarter. Prudential PLC now owns 22,889 shares of the technology company’s stock worth $2,452,000 after acquiring an additional 3,954 shares in the last quarter. Ossiam grew its holdings in CGI by 59.7% in the fourth quarter. Ossiam now owns 20,029 shares of the technology company’s stock worth $2,156,000 after purchasing an additional 7,491 shares during the period. Finally, Connectus Wealth LLC bought a new position in shares of CGI during the fourth quarter valued at approximately $965,000. Hedge funds and other institutional investors own 66.68% of the company’s stock.

Analysts Set New Price Targets

GIB has been the topic of a number of analyst reports. CIBC cut CGI from a “sector outperform” rating to a “neutral” rating in a research report on Friday, June 21st. Jefferies Financial Group increased 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. UBS Group initiated coverage on CGI in a research report on Friday, July 19th. They issued a “neutral” rating and a $112.00 price target for the company. Finally, Sanford C. Bernstein raised shares of CGI to a “strong-buy” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, CGI has an average rating of “Moderate Buy” and a consensus price target of $132.67.

CGI Stock Performance

Shares of GIB opened at $114.22 on Friday. CGI Inc. has a 12 month low of $93.07 and a 12 month high of $118.89. The business’s fifty day simple moving average is $110.76 and its two-hundred day simple moving average is $106.67. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22. The company has a market cap of $26.36 billion, a price-to-earnings ratio of 22.01, a P/E/G ratio of 2.63 and a beta of 0.95.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.40 EPS for the quarter, meeting the consensus estimate of $1.40. CGI had a return on equity of 20.21% and a net margin of 11.51%. The company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Research analysts anticipate that CGI Inc. will post 5.55 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.