FIL Ltd cut its stake in shares of CGI (NYSE:GIB) (TSE:GIB.A) by 6.1% in the 3rd quarter, Holdings Channel reports. The firm owned 12,794,700 shares of the technology company’s stock after selling 829,887 shares during the quarter. CGI comprises approximately 1.2% of FIL Ltd’s holdings, making the stock its 14th biggest position. FIL Ltd’s holdings in CGI were worth $824,947,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of CGI by 9.9% during the 3rd quarter. BlackRock Inc. now owns 54,987 shares of the technology company’s stock valued at $3,546,000 after acquiring an additional 4,936 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of CGI by 134.8% during the 3rd quarter. Janus Henderson Group PLC now owns 532,871 shares of the technology company’s stock valued at $34,340,000 after acquiring an additional 305,959 shares during the last quarter. Highstreet Asset Management Inc. lifted its position in shares of CGI by 6.1% during the 3rd quarter. Highstreet Asset Management Inc. now owns 50,019 shares of the technology company’s stock valued at $3,225,000 after acquiring an additional 2,891 shares during the last quarter. Cidel Asset Management Inc. raised its stake in CGI by 1.7% during the 3rd quarter. Cidel Asset Management Inc. now owns 382,505 shares of the technology company’s stock valued at $24,644,000 after purchasing an additional 6,218 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in CGI by 171.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 398,452 shares of the technology company’s stock valued at $25,693,000 after purchasing an additional 251,418 shares during the period. 58.14% of the stock is owned by institutional investors.

CGI stock opened at $61.20 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.69 and a current ratio of 1.00. The firm has a market cap of $17.20 billion, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 1.92 and a beta of 0.61. CGI has a one year low of $52.54 and a one year high of $66.53.

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

Several analysts have issued reports on GIB shares. Desjardins downgraded shares of CGI from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Royal Bank of Canada upped their price target on shares of CGI from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, November 8th. Raymond James reaffirmed a “buy” rating on shares of CGI in a research note on Wednesday, November 7th. Zacks Investment Research downgraded shares of CGI from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Finally, Barclays increased their target price on shares of CGI from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, August 2nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $77.67.

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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.

See Also: Exchange-Traded Funds (ETFs)

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Institutional Ownership by Quarter for CGI (NYSE:GIB)

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