CGI Inc (NYSE:GIB) Shares Sold by Parallel Advisors LLC

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Parallel Advisors LLC reduced its holdings in CGI Inc (NYSE:GIB) (TSE:GIB.A) by 24.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 433 shares of the technology company’s stock after selling 141 shares during the quarter. Parallel Advisors LLC’s holdings in CGI were worth $33,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GIB. TD Asset Management Inc. acquired a new position in CGI during the second quarter worth $240,254,000. The Manufacturers Life Insurance Company raised its holdings in CGI by 1.1% during the first quarter. The Manufacturers Life Insurance Company now owns 2,757,619 shares of the technology company’s stock worth $189,614,000 after purchasing an additional 31,290 shares during the last quarter. Toronto Dominion Bank raised its holdings in CGI by 23.8% during the first quarter. Toronto Dominion Bank now owns 1,405,201 shares of the technology company’s stock worth $96,805,000 after purchasing an additional 270,365 shares during the last quarter. Swiss National Bank raised its holdings in CGI by 3.5% during the second quarter. Swiss National Bank now owns 904,400 shares of the technology company’s stock worth $69,526,000 after purchasing an additional 30,700 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in CGI during the first quarter worth $70,859,000. 56.31% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on the company. 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. Bank of America assumed coverage on CGI in a report on Thursday, May 23rd. They set a “buy” rating and a $83.00 price objective for the company. Finally, Societe Generale cut CGI from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $87.67.

Shares of NYSE GIB traded down $0.64 during trading on Wednesday, reaching $77.48. The company had a trading volume of 3,431 shares, compared to its average volume of 163,891. CGI Inc has a twelve month low of $57.35 and a twelve month high of $80.50. The stock has a market capitalization of $20.62 billion, a PE ratio of 24.23, a price-to-earnings-growth ratio of 2.30 and a beta of 0.54. The stock has a 50-day moving average price of $77.86 and a two-hundred day moving average price of $72.77. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 0.35.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.01). CGI had a return on equity of 18.78% and a net margin of 10.32%. The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the firm earned $1.08 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts predict that CGI Inc will post 3.55 EPS for the current year.

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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Institutional Ownership by Quarter for CGI (NYSE:GIB)

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