Creative Planning Boosts Stock Position in CGI Inc. (NYSE:GIB)

Creative Planning increased its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 16.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,179 shares of the technology company’s stock after purchasing an additional 3,490 shares during the quarter. Creative Planning’s holdings in CGI were worth $2,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of GIB. Dixon Mitchell Investment Counsel Inc. purchased a new stake in CGI in the 1st quarter worth approximately $30,000. CWM LLC raised its holdings in shares of CGI by 14.8% during the third quarter. CWM LLC now owns 1,365 shares of the technology company’s stock valued at $157,000 after acquiring an additional 176 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in CGI by 9.2% in the second quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock worth $205,000 after acquiring an additional 173 shares during the period. Tidal Investments LLC bought a new stake in CGI in the first quarter valued at $226,000. Finally, CreativeOne Wealth LLC purchased a new position in CGI during the 1st quarter valued at $228,000. Hedge funds and other institutional investors own 66.68% of the company’s stock.

Analyst Ratings Changes

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

CGI Stock Performance

Shares of GIB opened at $113.11 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.22. The stock has a market cap of $25.78 billion, a P/E ratio of 21.38, a P/E/G ratio of 2.41 and a beta of 0.95. The business’s 50 day moving average price is $113.55 and its 200-day moving average price is $107.11. CGI Inc. has a 52 week low of $93.07 and a 52 week high of $118.89.

CGI (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, July 31st. The technology company reported $1.40 EPS for the quarter, hitting the consensus estimate of $1.40. CGI had a return on equity of 20.21% and a net margin of 11.51%. The business had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.67 billion. Equities research analysts anticipate that CGI Inc. will post 5.55 earnings per share for the current fiscal year.

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.