BlackRock Inc. Acquires 4,936 Shares of CGI (GIB)
BlackRock Inc. raised its holdings in CGI (NYSE:GIB) (TSE:GIB.A) by 9.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 54,987 shares of the technology company’s stock after purchasing an additional 4,936 shares during the quarter. BlackRock Inc.’s holdings in CGI were worth $3,546,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Janus Henderson Group PLC boosted its stake 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 worth $34,340,000 after acquiring an additional 305,959 shares in the last quarter. Moody National Bank Trust Division purchased a new stake in shares of CGI during the 3rd quarter worth about $769,000. Northern Trust Corp boosted its stake in shares of CGI by 4.5% during the 2nd quarter. Northern Trust Corp now owns 263,788 shares of the technology company’s stock worth $16,703,000 after acquiring an additional 11,436 shares in the last quarter. NN Investment Partners Holdings N.V. boosted its stake in shares of CGI by 347.3% during the 3rd quarter. NN Investment Partners Holdings N.V. now owns 112,712 shares of the technology company’s stock worth $7,268,000 after acquiring an additional 87,512 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of CGI by 171.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 398,452 shares of the technology company’s stock worth $25,693,000 after acquiring an additional 251,418 shares in the last quarter. 58.37% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on GIB shares. BMO Capital Markets reissued a “buy” rating on shares of CGI in a research note on Wednesday, January 16th. Desjardins raised shares of CGI from a “hold” rating to a “buy” rating in a research note on Tuesday, October 30th. 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 research note on Thursday, November 8th. Raymond James reissued a “buy” rating on shares of CGI in a research note on Tuesday, January 8th. Finally, Zacks Investment Research raised shares of CGI from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research note on Friday, February 1st. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. CGI has an average rating of “Buy” and an average target price of $79.00.
CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings results on Wednesday, January 30th. The technology company reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.01. The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.95 billion. CGI had a net margin of 10.01% and a return on equity of 18.11%. CGI’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company posted $0.99 EPS. Sell-side analysts forecast that CGI will post 3.55 EPS for the current year.
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CGI Group 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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