Gulf International Bank UK Ltd Has $321,000 Holding in CGI (NYSE:GIB)

Gulf International Bank UK Ltd Has $321,000 Holding in CGI (NYSE:GIB)

Gulf International Bank UK Ltd cut its stake in shares of CGI (NYSE:GIB) (TSE:GIB.A) by 94.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 4,982 shares of the technology company’s stock after selling 78,683 shares during the period. Gulf International Bank UK Ltd’s holdings in CGI were worth $321,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. purchased a new position in shares of CGI in the 2nd quarter worth approximately $815,000. Acadian Asset Management LLC purchased a new position in shares of CGI in the 2nd quarter worth approximately $46,610,000. Eqis Capital Management Inc. grew its position in shares of CGI by 18.4% in the 2nd quarter. Eqis Capital Management Inc. now owns 33,203 shares of the technology company’s stock worth $2,102,000 after buying an additional 5,165 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of CGI by 14.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,037,318 shares of the technology company’s stock worth $129,003,000 after buying an additional 253,847 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of CGI in the 2nd quarter worth approximately $449,000. Institutional investors own 58.10% of the company’s stock.

GIB has been the topic of a number of analyst reports. BMO Capital Markets reaffirmed a “buy” rating on shares of CGI in a research report on Tuesday. Desjardins reaffirmed a “buy” rating on shares of CGI in a research report on Friday, November 9th. Zacks Investment Research raised shares of CGI from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Wednesday, October 10th. Raymond James reaffirmed a “buy” rating on shares of CGI in a research report on Wednesday, November 7th. Finally, Royal Bank of Canada boosted their target price on shares of CGI from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, November 8th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $77.67.

Shares of GIB stock traded down $0.09 during trading hours on Thursday, hitting $63.59. The company’s stock had a trading volume of 251,850 shares, compared to its average volume of 201,313. The company has a market capitalization of $17.89 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 2.00 and a beta of 0.58. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 0.69. CGI has a 12-month low of $52.54 and a 12-month high of $66.53.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings data on Wednesday, November 7th. The technology company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.82 by $0.01. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.79 billion. CGI had a net margin of 9.92% and a return on equity of 18.05%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.93 EPS. As a group, sell-side analysts forecast that CGI will post 3.54 earnings per share for the current year.

About CGI

CGI Group Inc provides information technology (IT) and business process services in Canada and internationally. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities. The company offers application development, integration, and maintenance services; technology infrastructure management services; and business process services, such as collections and payroll management.

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