Financial Gravity Wealth Inc. Buys New Stake in CGI Inc (GIB)
Financial Gravity Wealth Inc. bought a new position in CGI Inc (NYSE:GIB) (TSE:GIB.A) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 5,113 shares of the technology company’s stock, valued at approximately $354,000.
A number of other large investors also recently made changes to their positions in GIB. NumerixS Investment Technologies Inc bought a new stake in CGI in the fourth quarter worth $90,000. Neuburgh Advisers LLC bought a new stake in CGI in the fourth quarter worth $111,000. Csenge Advisory Group bought a new stake in CGI in the third quarter worth $149,000. Riverhead Capital Management LLC lifted its stake in CGI by 100.0% in the third quarter. Riverhead Capital Management LLC now owns 2,800 shares of the technology company’s stock worth $179,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in CGI by 132.9% in the fourth quarter. Quadrant Capital Group LLC now owns 3,300 shares of the technology company’s stock worth $195,000 after purchasing an additional 1,883 shares during the last quarter. Institutional investors own 58.44% of the company’s stock.
GIB has been the subject of several recent research reports. Raymond James reissued a “buy” rating on shares of CGI in a research note on Tuesday, January 8th. Zacks Investment Research raised shares of CGI from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a research note on Friday, February 1st. Finally, BMO Capital Markets reissued a “buy” rating on shares of CGI in a research note on Wednesday, January 16th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $79.00.
CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, January 30th. The technology company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.01. The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.95 billion. CGI had a net margin of 10.01% and a return on equity of 18.11%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.99 earnings per share. On average, equities analysts anticipate that CGI Inc will post 3.54 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: “Financial Gravity Wealth Inc. Buys New Stake in CGI Inc (GIB)” was originally posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this report on another site, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this report can be viewed at https://theolympiareport.com/2019/04/20/financial-gravity-wealth-inc-buys-new-stake-in-cgi-inc-gib.html.
CGI Company Profile
CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.
Featured Article: What is the QQQ ETF?
Receive News & Ratings for CGI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CGI and related companies with MarketBeat.com's FREE daily email newsletter.