Cwm LLC Grows Position in CGI Inc. (NYSE:GIB)

Cwm LLC lifted its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 14.8% during the 3rd quarter, Holdings Channel reports. The firm owned 1,365 shares of the technology company’s stock after acquiring an additional 176 shares during the period. Cwm LLC’s holdings in CGI were worth $157,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in GIB. Dixon Mitchell Investment Counsel Inc. purchased a new stake in CGI during the 1st quarter valued at $30,000. EverSource Wealth Advisors LLC raised its stake in shares of CGI by 9.2% during the second quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock valued at $205,000 after acquiring an additional 173 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of CGI during the first quarter worth about $226,000. CreativeOne Wealth LLC bought a new stake in shares of CGI in the first quarter worth about $228,000. Finally, XTX Topco Ltd bought a new stake in shares of CGI in the second quarter worth about $230,000. 66.68% of the stock is owned by hedge funds and other institutional investors.

CGI Trading Up 0.1 %

GIB opened at $113.99 on Thursday. The stock has a market cap of $26.31 billion, a PE ratio of 21.96, a PEG ratio of 2.45 and a beta of 0.95. The business has a 50 day moving average of $113.35 and a 200-day moving average of $107.02. CGI Inc. has a 52 week low of $93.07 and a 52 week high of $118.89. 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 announced its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.40 EPS for the quarter, meeting the consensus estimate 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 analyst estimates of $2.67 billion. Equities research analysts predict that CGI Inc. will post 5.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GIB has been the subject of several research analyst reports. UBS Group assumed coverage on CGI in a report on Friday, July 19th. They issued a “neutral” rating and a $112.00 price objective for the company. CIBC upgraded CGI from a “neutral” rating to an “outperformer” rating and upped their target price for the company from $155.00 to $178.00 in a report on Tuesday, October 15th. Jefferies Financial Group lifted their price target on shares of CGI from $120.00 to $121.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Sanford C. Bernstein raised shares of CGI to a “strong-buy” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $137.00.

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.