CGI Inc. (NYSE:GIB) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lowered its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 18.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 656,526 shares of the technology company’s stock after selling 144,788 shares during the period. Clearbridge Investments LLC owned approximately 0.28% of CGI worth $72,582,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of GIB. Norges Bank acquired a new stake in shares of CGI in the 4th quarter worth approximately $273,239,000. TD Asset Management Inc grew its holdings in shares of CGI by 29.6% in the 4th quarter. TD Asset Management Inc now owns 2,156,776 shares of the technology company’s stock worth $232,181,000 after acquiring an additional 493,145 shares during the period. Fiera Capital Corp grew its holdings in CGI by 7.1% during the 4th quarter. Fiera Capital Corp now owns 4,085,404 shares of the technology company’s stock valued at $439,103,000 after buying an additional 272,371 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in CGI by 54.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 735,174 shares of the technology company’s stock valued at $78,818,000 after buying an additional 258,651 shares during the last quarter. Finally, UBS Group AG lifted its stake in shares of CGI by 116.7% during the 4th quarter. UBS Group AG now owns 369,051 shares of the technology company’s stock worth $39,566,000 after purchasing an additional 198,749 shares during the period. Institutional investors and hedge funds own 66.68% of the company’s stock.

CGI Stock Performance

GIB stock traded down $0.41 during midday trading on Wednesday, reaching $107.09. The company had a trading volume of 127,628 shares, compared to its average volume of 154,712. The company has a quick ratio of 0.86, a current ratio of 1.17 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average price of $102.28 and a 200 day moving average price of $107.03. CGI Inc. has a fifty-two week low of $93.07 and a fifty-two week high of $118.89. The firm has a market capitalization of $24.71 billion, a PE ratio of 20.79, a P/E/G ratio of 2.49 and a beta of 0.95.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, May 1st. The technology company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.02. CGI had a return on equity of 20.43% and a net margin of 11.38%. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.79 billion. Analysts anticipate that CGI Inc. will post 5.58 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on GIB shares. UBS Group started coverage on CGI in a research report on Friday, July 19th. They issued a “neutral” rating and a $112.00 target price on the stock. CIBC lowered CGI from a “sector outperform” rating to a “neutral” rating in a research report on Friday, June 21st. TD Securities raised CGI from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. Finally, Jefferies Financial Group raised their price objective on CGI from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $132.67.

CGI Company Profile

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.