Envestnet Asset Management Inc. Sells 49,642 Shares of CGI Inc. (NYSE:GIB)

Envestnet Asset Management Inc. lowered its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 41.0% during the 2nd quarter, Holdings Channel reports. The fund owned 71,517 shares of the technology company’s stock after selling 49,642 shares during the period. Envestnet Asset Management Inc.’s holdings in CGI were worth $7,138,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GIB. Steward Partners Investment Advisory LLC lifted its stake in shares of 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 valued at $549,000 after buying an additional 5,086 shares in the last quarter. Pinebridge Investments L.P. bought a new stake in CGI during the 4th quarter worth approximately $421,000. Prudential PLC raised its stake in shares of CGI by 20.9% in the fourth quarter. Prudential PLC now owns 22,889 shares of the technology company’s stock worth $2,452,000 after purchasing an additional 3,954 shares during the last quarter. Ossiam lifted its holdings in shares of CGI by 59.7% in the fourth quarter. Ossiam now owns 20,029 shares of the technology company’s stock valued at $2,156,000 after purchasing an additional 7,491 shares in the last quarter. Finally, Connectus Wealth LLC purchased a new position in shares of CGI during the fourth quarter valued at approximately $965,000. Institutional investors own 66.68% of the company’s stock.

CGI Trading Down 1.9 %

Shares of CGI stock opened at $114.22 on Friday. The stock has a fifty day moving average price of $110.76 and a 200-day moving average price of $106.75. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 0.86. The firm has a market cap of $26.36 billion, a PE ratio of 22.01, a P/E/G ratio of 2.63 and a beta of 0.95. CGI Inc. has a 1 year low of $93.07 and a 1 year high of $118.89.

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

Wall Street Analyst Weigh In

GIB has been the subject of a number of analyst reports. 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. CIBC downgraded shares of CGI from a “sector outperform” rating to a “neutral” rating in a report on Friday, June 21st. Jefferies Financial Group raised their price target on shares of CGI from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, Sanford C. Bernstein raised shares of CGI to a “strong-buy” rating in a research report on Thursday, August 1st. Three equities 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.67.

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.