CGI Inc (GIB) Position Reduced by Great West Life Assurance Co. Can
Great West Life Assurance Co. Can trimmed its holdings in shares of CGI Inc (NYSE:GIB) (TSE:GIB.A) by 7.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,750,114 shares of the technology company’s stock after selling 214,036 shares during the quarter. Great West Life Assurance Co. Can’s holdings in CGI were worth $188,318,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of GIB. Norges Bank purchased a new position in CGI during the fourth quarter worth about $157,764,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in CGI during the first quarter worth about $70,859,000. Geode Capital Management LLC grew its position in CGI by 5,894.0% during the fourth quarter. Geode Capital Management LLC now owns 277,403 shares of the technology company’s stock worth $16,864,000 after buying an additional 272,775 shares in the last quarter. Toronto Dominion Bank grew its position in CGI by 23.8% during the first quarter. Toronto Dominion Bank now owns 1,405,201 shares of the technology company’s stock worth $96,805,000 after buying an additional 270,365 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in CGI by 171.0% during the third quarter. JPMorgan Chase & Co. now owns 398,452 shares of the technology company’s stock worth $25,693,000 after buying an additional 251,418 shares in the last quarter. Institutional investors and hedge funds own 58.75% of the company’s stock.
CGI stock traded down $0.18 during midday trading on Wednesday, hitting $73.06. 200 shares of the company’s stock were exchanged, compared to its average volume of 173,153. CGI Inc has a 52-week low of $57.35 and a 52-week high of $73.61. The company has a quick ratio of 0.82, a current ratio of 1.16 and a debt-to-equity ratio of 0.28. The stock has a market cap of $19.95 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 2.27 and a beta of 0.57.
Several equities analysts recently commented on GIB shares. Zacks Investment Research cut CGI from a “hold” rating to a “sell” rating in a research report on Monday, January 28th. CIBC cut CGI from a “sector outperform” rating to a “neutral” rating in a research report on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. CGI has a consensus rating of “Buy” and an average target price of $79.00.
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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.
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