CGI Inc (NYSE:GIB) Holdings Decreased by Financial Gravity Wealth Inc.

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Financial Gravity Wealth Inc. trimmed its position in CGI Inc (NYSE:GIB) (TSE:GIB.A) by 24.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,028 shares of the technology company’s stock after selling 970 shares during the quarter. Financial Gravity Wealth Inc.’s holdings in CGI were worth $240,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in GIB. Marshall Wace LLP acquired a new position in CGI during the 1st quarter valued at approximately $110,000. Marshall Wace North America L.P. acquired a new position in CGI during the 1st quarter valued at approximately $3,129,000. Amundi Pioneer Asset Management Inc. boosted its position in CGI by 18.7% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 218,444 shares of the technology company’s stock valued at $15,020,000 after purchasing an additional 34,441 shares during the period. Zions Bancorporation N.A. acquired a new position in CGI during the 2nd quarter valued at approximately $28,000. Finally, Clark Capital Management Group Inc. boosted its position in CGI by 2.5% during the 2nd quarter. Clark Capital Management Group Inc. now owns 493,841 shares of the technology company’s stock valued at $38,053,000 after purchasing an additional 11,988 shares during the period. Institutional investors and hedge funds own 55.19% of the company’s stock.

Shares of GIB stock opened at $78.52 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.75 and a current ratio of 1.09. CGI Inc has a 1 year low of $57.35 and a 1 year high of $80.59. The stock has a fifty day moving average of $78.11 and a two-hundred day moving average of $75.45. The firm has a market capitalization of $21.07 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 2.16 and a beta of 0.53.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.91 earnings per share (EPS) 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 business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the firm posted $1.08 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts predict that CGI Inc will post 3.58 earnings per share for the current fiscal year.

GIB has been the subject of a number of analyst reports. Societe Generale lowered CGI from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Barclays initiated coverage on CGI in a research report on Friday, September 20th. They set an “overweight” rating and a $90.00 price objective for the company. Desjardins upgraded CGI from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. ValuEngine lowered CGI from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research lowered CGI from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. CGI currently has an average rating of “Buy” and an average price target of $88.25.

CGI 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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