Mediolanum International Funds Ltd Trims Stock Holdings in CGI Inc. (NYSE:GIB)

Mediolanum International Funds Ltd lowered its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 49.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,501 shares of the technology company’s stock after selling 5,277 shares during the period. Mediolanum International Funds Ltd’s holdings in CGI were worth $629,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. purchased a new position in CGI during the first quarter valued at approximately $30,000. Blue Trust Inc. grew its stake in CGI by 288.2% during the third quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock valued at $91,000 after acquiring an additional 585 shares in the last quarter. CWM LLC grew its stake in CGI by 14.8% during the third quarter. CWM LLC now owns 1,365 shares of the technology company’s stock valued at $157,000 after acquiring an additional 176 shares in the last quarter. Werba Rubin Papier Wealth Management purchased a new position in CGI during the third quarter valued at approximately $208,000. Finally, Tidal Investments LLC purchased a new position in CGI during the first quarter valued at approximately $226,000. Hedge funds and other institutional investors own 66.68% of the company’s stock.

Analyst Ratings Changes

GIB has been the subject of several recent analyst reports. CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and boosted their price objective for the company from $155.00 to $178.00 in a research note on Tuesday, October 15th. UBS Group began 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. Cibc World Mkts raised shares of CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. Jefferies Financial Group boosted their price target on shares of CGI from $120.00 to $121.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Sanford C. Bernstein raised shares of CGI to a “strong-buy” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, CGI has an average rating of “Buy” and an average price target of $137.00.

CGI Trading Down 1.0 %

Shares of GIB opened at $113.11 on Monday. The firm has a market cap of $26.10 billion, a price-to-earnings ratio of 21.79, a PEG ratio of 2.41 and a beta of 0.95. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.16. CGI Inc. has a fifty-two week low of $93.07 and a fifty-two week high of $118.89. The firm has a 50 day moving average price of $113.55 and a 200-day moving average price of $107.13.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.40 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.40. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. CGI had a net margin of 11.51% and a return on equity of 20.21%. As a group, equities research analysts forecast that CGI Inc. will post 5.55 earnings per share for the current year.

About CGI

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.