PDS Planning Inc Takes Position in CGI Inc. (NYSE:GIB)

PDS Planning Inc purchased a new position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,098 shares of the technology company’s stock, valued at approximately $241,000.

Several other institutional investors have also recently added to or reduced their stakes in GIB. Intech Investment Management LLC acquired a new position in shares of CGI in the first quarter valued at approximately $5,529,000. Henry James International Management Inc. raised its position in CGI by 7.2% during the 1st quarter. Henry James International Management Inc. now owns 82,029 shares of the technology company’s stock worth $9,063,000 after buying an additional 5,517 shares during the last quarter. Fiera Capital Corp lifted its stake in shares of CGI by 1.9% in the 2nd quarter. Fiera Capital Corp now owns 4,269,775 shares of the technology company’s stock worth $426,353,000 after acquiring an additional 79,303 shares during the period. Canada Pension Plan Investment Board boosted its holdings in shares of CGI by 8.7% in the first quarter. Canada Pension Plan Investment Board now owns 692,449 shares of the technology company’s stock valued at $76,467,000 after acquiring an additional 55,499 shares in the last quarter. Finally, GHP Investment Advisors Inc. increased its stake in shares of CGI by 14.4% during the second quarter. GHP Investment Advisors Inc. now owns 41,348 shares of the technology company’s stock worth $4,127,000 after acquiring an additional 5,213 shares during the period. Institutional investors and hedge funds own 66.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and raised their price objective for the company from $155.00 to $178.00 in a research report on Tuesday, October 15th. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. UBS Group began coverage on CGI in a report on Friday, July 19th. They set a “neutral” rating and a $112.00 price objective on the stock. Jefferies Financial Group raised their target price on CGI from $120.00 to $121.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, Sanford C. Bernstein upgraded shares of CGI to a “strong-buy” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $137.00.

CGI Stock Performance

GIB opened at $112.84 on Wednesday. The stock’s 50 day simple moving average is $113.94 and its 200 day simple moving average is $107.54. The stock has a market cap of $25.72 billion, a P/E ratio of 21.33, a P/E/G ratio of 2.37 and a beta of 0.96. CGI Inc. has a 1-year low of $96.92 and a 1-year high of $118.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 0.86.

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.