Amundi Pioneer Asset Management Inc. trimmed its position in CGI Inc (NYSE:GIB) (TSE:GIB.A) by 10.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 184,003 shares of the technology company’s stock after selling 20,781 shares during the period. Amundi Pioneer Asset Management Inc. owned 0.07% of CGI worth $11,258,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the business. Cigna Investments Inc. New raised its position in shares of CGI by 6.7% during the 4th quarter. Cigna Investments Inc. New now owns 3,617 shares of the technology company’s stock valued at $222,000 after buying an additional 227 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in CGI by 6.4% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,300 shares of the technology company’s stock worth $508,000 after purchasing an additional 500 shares during the period. Wetherby Asset Management Inc. raised its position in CGI by 16.1% in the 4th quarter. Wetherby Asset Management Inc. now owns 4,350 shares of the technology company’s stock worth $266,000 after purchasing an additional 602 shares during the period. Advisor Group Inc. raised its position in CGI by 7.6% in the 4th quarter. Advisor Group Inc. now owns 8,633 shares of the technology company’s stock worth $529,000 after purchasing an additional 611 shares during the period. Finally, Signaturefd LLC raised its position in CGI by 36.5% in the 3rd quarter. Signaturefd LLC now owns 3,468 shares of the technology company’s stock worth $224,000 after purchasing an additional 928 shares during the period. 58.44% of the stock is owned by hedge funds and other institutional investors.
GIB has been the topic of a number of analyst reports. Zacks Investment Research cut shares of CGI from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. Raymond James reiterated a “buy” rating on shares of CGI in a research report on Tuesday, January 8th. Finally, BMO Capital Markets reissued a “buy” rating on shares of CGI in a report on Wednesday, January 16th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $79.00.
CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings results on Wednesday, January 30th. The technology company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. The business had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.95 billion. CGI had a net margin of 10.01% and a return on equity of 18.11%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.99 EPS. As a group, sell-side analysts expect that CGI Inc will post 3.54 earnings per share for the current fiscal year.
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CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.
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