CLARET ASSET MANAGEMENT Corp reduced its position in CGI Inc (NYSE:GIB) (TSE:GIB.A) by 2.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 581,857 shares of the technology company’s stock after selling 13,281 shares during the period. CGI makes up about 9.5% of CLARET ASSET MANAGEMENT Corp’s investment portfolio, making the stock its biggest position. CLARET ASSET MANAGEMENT Corp’s holdings in CGI were worth $46,027,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Zions Bancorporation N.A. purchased a new position in shares of CGI in the 2nd quarter worth $28,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of CGI by 30.2% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 560 shares of the technology company’s stock worth $43,000 after buying an additional 130 shares during the last quarter. NEXT Financial Group Inc purchased a new position in shares of CGI in the 2nd quarter worth $76,000. Marshall Wace LLP purchased a new position in shares of CGI in the 1st quarter worth $110,000. Finally, Neuburgh Advisers LLC boosted its stake in shares of CGI by 13.6% in the 2nd quarter. Neuburgh Advisers LLC now owns 2,000 shares of the technology company’s stock worth $148,000 after buying an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 55.19% of the company’s stock.
CGI stock traded up $0.79 during trading on Friday, reaching $78.80. The company had a trading volume of 64,874 shares, compared to its average volume of 150,396. CGI Inc has a 52 week low of $57.35 and a 52 week high of $80.59. The firm’s 50-day simple moving average is $78.01 and its 200 day simple moving average is $75.18. The firm has a market capitalization of $21.27 billion, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of 2.13 and a beta of 0.53. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 0.35.
GIB has been the topic of a number of research reports. Societe Generale downgraded CGI from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Barclays assumed coverage on CGI in a report on Friday, September 20th. They issued an “overweight” rating and a $90.00 target price on the stock. Zacks Investment Research cut CGI from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. National Bank Financial reaffirmed a “buy” rating on shares of CGI in a report on Wednesday, July 31st. Finally, ValuEngine cut CGI from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $88.25.
CGI Company Profile
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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