Employees Retirement System of Texas Sells 5,285 Shares of CGI Inc. (NYSE:GIB)

Employees Retirement System of Texas decreased its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 64.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,862 shares of the technology company’s stock after selling 5,285 shares during the period. Employees Retirement System of Texas’ holdings in CGI were worth $286,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in GIB. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of CGI during the first quarter worth about $30,000. UMB Bank n.a. lifted its stake in CGI by 9,916.7% in the first quarter. UMB Bank n.a. now owns 601 shares of the technology company’s stock worth $66,000 after acquiring an additional 595 shares during the period. CWM LLC boosted its stake in shares of CGI by 19.1% during the 1st quarter. CWM LLC now owns 1,185 shares of the technology company’s stock valued at $131,000 after purchasing an additional 190 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of CGI during the first quarter valued at about $226,000. Finally, EverSource Wealth Advisors LLC raised its stake in CGI by 9.2% in the second quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock worth $205,000 after buying an additional 173 shares in the last quarter. Institutional investors own 66.68% of the company’s stock.

CGI Stock Performance

Shares of GIB opened at $116.40 on Friday. The firm has a market capitalization of $26.86 billion, a P/E ratio of 22.43, a PEG ratio of 2.63 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 one year low of $93.07 and a one year high of $118.89. The business has a fifty day moving average of $110.40 and a 200 day moving average of $106.71.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.40 earnings per share (EPS) 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 the consensus estimate of $2.67 billion. As a group, sell-side analysts anticipate that CGI Inc. will post 5.55 EPS for the current year.

Wall Street Analysts Forecast Growth

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