BerganKDV Wealth Management LLC reduced its holdings in CGI (NYSE:GIB) (TSE:GIB.A) by 76.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,806 shares of the technology company’s stock after selling 12,065 shares during the period. BerganKDV Wealth Management LLC’s holdings in CGI were worth $245,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Creative Planning raised its holdings in CGI by 4.2% in the third quarter. Creative Planning now owns 23,384 shares of the technology company’s stock worth $1,508,000 after purchasing an additional 946 shares during the period. GHP Investment Advisors Inc. raised its holdings in CGI by 11.0% in the third quarter. GHP Investment Advisors Inc. now owns 14,745 shares of the technology company’s stock worth $951,000 after purchasing an additional 1,460 shares during the period. Commonwealth Bank of Australia raised its holdings in CGI by 6.3% in the second quarter. Commonwealth Bank of Australia now owns 27,288 shares of the technology company’s stock worth $1,724,000 after purchasing an additional 1,619 shares during the period. Tower Research Capital LLC TRC acquired a new stake in CGI in the second quarter worth $124,000. Finally, Highstreet Asset Management Inc. raised its holdings in CGI by 6.1% in the third quarter. Highstreet Asset Management Inc. now owns 50,019 shares of the technology company’s stock worth $3,225,000 after purchasing an additional 2,891 shares during the period. Institutional investors and hedge funds own 58.14% of the company’s stock.

Shares of NYSE:GIB opened at $61.24 on Tuesday. CGI has a 12 month low of $52.54 and a 12 month high of $66.53. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.22. The firm has a market cap of $17.68 billion, a P/E ratio of 19.08, a P/E/G ratio of 1.98 and a beta of 0.61.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, November 7th. The technology company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. CGI had a net margin of 9.92% and a return on equity of 18.05%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same period last year, the business posted $0.93 earnings per share. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. Research analysts predict that CGI will post 3.54 earnings per share for the current fiscal year.

Several equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of CGI from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. Desjardins lowered shares of CGI from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Barclays increased their target price on shares of CGI from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Thursday, August 2nd. Raymond James reiterated a “buy” rating on shares of CGI in a report on Wednesday, November 7th. Finally, Royal Bank of Canada increased their target price on shares of CGI from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, November 8th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $77.67.

WARNING: “BerganKDV Wealth Management LLC Has $245,000 Position in CGI (GIB)” was first published by Daily Political and is owned by of Daily Political. If you are accessing this piece on another domain, it was stolen and reposted in violation of United States & international copyright & trademark laws. The original version of this piece can be accessed at https://www.dailypolitical.com/2018/11/20/bergankdv-wealth-management-llc-has-245000-position-in-cgi-gib.html.

About CGI

CGI Group Inc provides information technology (IT) and business process services in Canada and internationally. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities. The company offers application development, integration, and maintenance services; technology infrastructure management services; and business process services, such as collections and payroll management.

Featured Article: Understanding the different types of bonds

Institutional Ownership by Quarter for CGI (NYSE:GIB)

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.