Andra AP fonden Invests $11.42 Million in CGI Inc. (NYSE:GIB)

Andra AP fonden acquired a new stake in shares of CGI Inc. (NYSE:GIBFree Report) (TSE:GIB.A) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 114,400 shares of the technology company’s stock, valued at approximately $11,418,000.

A number of other large investors also recently modified their holdings of GIB. First Affirmative Financial Network raised its holdings in CGI by 4.0% during the second quarter. First Affirmative Financial Network now owns 2,841 shares of the technology company’s stock valued at $284,000 after acquiring an additional 109 shares during the period. Cigna Investments Inc. New raised its position in shares of CGI by 3.8% during the second quarter. Cigna Investments Inc. New now owns 3,948 shares of the technology company’s stock valued at $394,000 after buying an additional 146 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of CGI by 0.5% in the first quarter. Sequoia Financial Advisors LLC now owns 30,933 shares of the technology company’s stock worth $3,418,000 after buying an additional 149 shares in the last quarter. JCIC Asset Management Inc. boosted its position in shares of CGI by 0.5% during the first quarter. JCIC Asset Management Inc. now owns 32,860 shares of the technology company’s stock worth $3,627,000 after acquiring an additional 160 shares during the last quarter. Finally, CWM LLC grew its stake in CGI by 19.1% during the first quarter. CWM LLC now owns 1,185 shares of the technology company’s stock valued at $131,000 after acquiring an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 66.68% of the company’s stock.

Analyst Upgrades and Downgrades

GIB has been the topic of several research analyst reports. UBS Group started coverage on shares of CGI in a research note on Friday, July 19th. They issued a “neutral” rating and a $112.00 price target on the stock. CIBC lowered CGI from a “sector outperform” rating to a “neutral” rating in a research note on Friday, June 21st. Jefferies Financial Group lifted their price objective on CGI from $120.00 to $121.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Sanford C. Bernstein raised shares of CGI to a “strong-buy” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, CGI has a consensus rating of “Moderate Buy” and an average target price of $132.67.

View Our Latest Stock Report on GIB

CGI Price Performance

NYSE:GIB opened at $113.97 on Wednesday. The firm has a market capitalization of $26.30 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 2.60 and a beta of 0.95. CGI Inc. has a 1 year low of $93.07 and a 1 year high of $118.89. The business has a 50 day simple moving average of $108.08 and a 200-day simple moving average of $106.76. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 0.86.

About CGI

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for CGI (NYSE:GIB)

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