Kathmere Capital Management LLC Reduces Holdings in CGI Inc. (NYSE:GIB)

Kathmere Capital Management LLC reduced its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 3.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 7,545 shares of the technology company’s stock after selling 278 shares during the period. Kathmere Capital Management LLC’s holdings in CGI were worth $753,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GIB. APG Asset Management N.V. increased its position in CGI by 32.4% during the second quarter. APG Asset Management N.V. now owns 256,013 shares of the technology company’s stock worth $23,837,000 after buying an additional 62,649 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of CGI during the second quarter worth approximately $2,907,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of CGI by 184.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 28,765 shares of the technology company’s stock valued at $2,871,000 after acquiring an additional 18,644 shares during the period. Evergreen Capital Management LLC raised its position in CGI by 6.7% in the 2nd quarter. Evergreen Capital Management LLC now owns 3,437 shares of the technology company’s stock valued at $343,000 after purchasing an additional 215 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in CGI by 9.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock worth $205,000 after purchasing an additional 173 shares during the period. 66.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GIB. Sanford C. Bernstein upgraded shares of CGI to a “strong-buy” rating in a research note on Thursday, August 1st. CIBC downgraded CGI from a “sector outperform” rating to a “neutral” rating in a research note on Friday, June 21st. Jefferies Financial Group increased their price objective on CGI from $120.00 to $121.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, UBS Group began coverage on CGI in a report on Friday, July 19th. They issued a “neutral” rating and a $112.00 target price on the stock. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $132.67.

CGI Trading Down 1.9 %

Shares of CGI stock opened at $114.22 on Friday. The firm has a market cap of $26.36 billion, a price-to-earnings ratio of 22.01, a price-to-earnings-growth ratio of 2.63 and a beta of 0.95. CGI Inc. has a 52-week low of $93.07 and a 52-week high of $118.89. The company’s 50-day simple moving average is $110.60 and its 200-day simple moving average is $106.77. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.22.

CGI (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, July 31st. The technology company reported $1.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.40. The company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.67 billion. CGI had a return on equity of 20.21% and a net margin of 11.51%. As a group, equities research analysts anticipate 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.