Intact Investment Management Inc. Boosts Position in CGI Inc. (NYSE:GIB)

Intact Investment Management Inc. lifted its stake in shares of CGI Inc. (NYSE:GIBFree Report) (TSE:GIB.A) by 25.5% during the 3rd quarter, Holdings Channel reports. The fund owned 141,105 shares of the technology company’s stock after buying an additional 28,660 shares during the quarter. Intact Investment Management Inc.’s holdings in CGI were worth $16,237,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Van ECK Associates Corp raised its holdings in shares of CGI by 11.0% during the 3rd quarter. Van ECK Associates Corp now owns 36,378 shares of the technology company’s stock worth $4,144,000 after acquiring an additional 3,607 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of CGI by 43.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 9,268 shares of the technology company’s stock worth $1,065,000 after acquiring an additional 2,815 shares during the period. US Bancorp DE raised its holdings in shares of CGI by 8.4% during the 3rd quarter. US Bancorp DE now owns 3,099 shares of the technology company’s stock worth $356,000 after acquiring an additional 240 shares during the period. First Trust Direct Indexing L.P. raised its holdings in shares of CGI by 15.1% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,452 shares of the technology company’s stock worth $627,000 after acquiring an additional 716 shares during the period. Finally, Galibier Capital Management Ltd. raised its holdings in shares of CGI by 1.3% during the 3rd quarter. Galibier Capital Management Ltd. now owns 225,387 shares of the technology company’s stock worth $25,963,000 after acquiring an additional 2,902 shares during the period. Hedge funds and other institutional investors own 66.68% of the company’s stock.

Wall Street Analyst Weigh In

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

Check Out Our Latest Stock Report on CGI

CGI Stock Performance

NYSE GIB opened at $111.45 on Monday. The company has a market cap of $25.40 billion, a P/E ratio of 21.07, a P/E/G ratio of 2.34 and a beta of 0.96. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 0.86. The stock has a 50-day moving average of $113.86 and a two-hundred day moving average of $107.42. CGI Inc. has a 1-year low of $96.92 and a 1-year high of $118.89.

CGI Profile

(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.

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Institutional Ownership by Quarter for CGI (NYSE:GIB)

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