Scotia Capital Inc. raised its stake in CGI Inc (NYSE:GIB) (TSE:GIB.A) by 6.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 349,414 shares of the technology company’s stock after purchasing an additional 19,912 shares during the period. Scotia Capital Inc. owned 0.13% of CGI worth $26,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of GIB. APG Asset Management N.V. grew its stake in CGI by 75.5% during the 2nd quarter. APG Asset Management N.V. now owns 2,257,148 shares of the technology company’s stock valued at $152,711,000 after purchasing an additional 970,800 shares during the last quarter. Banco de Sabadell S.A purchased a new position in CGI during the 2nd quarter worth approximately $4,752,000. Parametric Portfolio Associates LLC raised its position in CGI by 1.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 253,771 shares of the technology company’s stock worth $19,482,000 after buying an additional 3,941 shares during the last quarter. Strategic Global Advisors LLC lifted its stake in CGI by 88.5% during the 2nd quarter. Strategic Global Advisors LLC now owns 22,720 shares of the technology company’s stock valued at $1,744,000 after acquiring an additional 10,668 shares during the period. Finally, Natixis lifted its stake in CGI by 5.9% during the 2nd quarter. Natixis now owns 36,592 shares of the technology company’s stock valued at $2,819,000 after acquiring an additional 2,050 shares during the period. 55.19% of the stock is currently owned by hedge funds and other institutional investors.

GIB traded up $0.39 on Wednesday, reaching $78.18. 132,789 shares of the company’s stock were exchanged, compared to its average volume of 128,986. CGI Inc has a twelve month low of $57.35 and a twelve month high of $80.59. The stock has a market cap of $20.88 billion, a PE ratio of 24.36, a P/E/G ratio of 2.36 and a beta of 0.55. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.09 and a quick ratio of 0.75. The stock’s fifty day moving average price is $77.88 and its 200-day moving average price is $73.63.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, July 31st. The technology company reported $0.91 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.01). CGI had a net margin of 10.32% and a return on equity of 18.78%. The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the company earned $1.08 earnings per share. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, research analysts predict that CGI Inc will post 3.56 earnings per share for the current fiscal year.

Several research firms have commented on GIB. National Bank Financial reaffirmed a “buy” rating on shares of CGI in a report on Wednesday, July 31st. Zacks Investment Research cut CGI from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Bank of America initiated coverage on CGI in a research note on Thursday, May 23rd. They issued a “buy” rating and a $83.00 price target for the company. Finally, Societe Generale cut shares of CGI from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. CGI presently has an average rating of “Buy” and a consensus price target of $87.67.

About CGI

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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Institutional Ownership by Quarter for CGI (NYSE:GIB)

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