Signaturefd LLC Raises Stock Holdings in CGI Inc. (NYSE:GIB)

Signaturefd LLC grew its stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 8.9% during the 3rd quarter, Holdings Channel reports. The fund owned 8,180 shares of the technology company’s stock after acquiring an additional 667 shares during the period. Signaturefd LLC’s holdings in CGI were worth $940,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in GIB. Wellington Management Group LLP lifted its position in shares of CGI by 44.0% in the fourth quarter. Wellington Management Group LLP now owns 62,684 shares of the technology company’s stock valued at $6,748,000 after acquiring an additional 19,141 shares in the last quarter. Park Avenue Securities LLC lifted its position in shares of CGI by 14.4% in the first quarter. Park Avenue Securities LLC now owns 5,461 shares of the technology company’s stock valued at $603,000 after acquiring an additional 687 shares in the last quarter. Kathmere Capital Management LLC lifted its position in shares of CGI by 16.6% in the first quarter. Kathmere Capital Management LLC now owns 7,823 shares of the technology company’s stock valued at $864,000 after acquiring an additional 1,115 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of CGI in the first quarter valued at $30,000. Finally, Commonwealth Equity Services LLC lifted its position in shares of CGI by 11.7% in the first quarter. Commonwealth Equity Services LLC now owns 13,059 shares of the technology company’s stock valued at $1,443,000 after acquiring an additional 1,363 shares in the last quarter. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GIB. UBS Group began coverage on CGI in a research report on Friday, July 19th. They set a “neutral” rating and a $112.00 target price on the stock. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. 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 report on Tuesday, July 16th. Sanford C. Bernstein upgraded CGI to a “strong-buy” rating in a research report on Thursday, August 1st. Finally, CIBC upgraded CGI from a “neutral” rating to an “outperformer” rating and increased their target price for the stock from $155.00 to $178.00 in a research report on Tuesday, October 15th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $137.00.

CGI Stock Performance

CGI stock opened at $114.48 on Friday. The stock’s 50-day moving average is $113.35 and its 200-day moving average is $107.02. The company has a market cap of $26.42 billion, a price-to-earnings ratio of 22.02, a price-to-earnings-growth ratio of 2.45 and a beta of 0.95. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 0.86. CGI Inc. has a 12 month low of $93.07 and a 12 month high of $118.89.

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, hitting analysts’ consensus estimates of $1.40. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.67 billion. CGI had a return on equity of 20.21% and a net margin of 11.51%. Equities analysts anticipate that CGI Inc. will post 5.55 earnings per share for the current 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.