CGI Inc (GIB) Shares Bought by United Services Automobile Association

United Services Automobile Association raised its stake in shares of CGI Inc (NYSE:GIB) (TSE:GIB.A) by 10.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 13,631 shares of the technology company’s stock after buying an additional 1,245 shares during the period. United Services Automobile Association’s holdings in CGI were worth $834,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. NumerixS Investment Technologies Inc acquired a new position in CGI in the fourth quarter valued at approximately $90,000. Csenge Advisory Group acquired a new position in CGI in the third quarter valued at approximately $149,000. Riverhead Capital Management LLC lifted its holdings in CGI by 100.0% in the third quarter. Riverhead Capital Management LLC now owns 2,800 shares of the technology company’s stock valued at $179,000 after acquiring an additional 1,400 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in CGI by 132.9% in the fourth quarter. Quadrant Capital Group LLC now owns 3,300 shares of the technology company’s stock valued at $195,000 after acquiring an additional 1,883 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in CGI by 36.5% in the third quarter. Signaturefd LLC now owns 3,468 shares of the technology company’s stock valued at $224,000 after acquiring an additional 928 shares during the last quarter. Institutional investors and hedge funds own 58.44% of the company’s stock.

A number of research firms have commented on GIB. Zacks Investment Research upgraded CGI from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research note on Friday, February 1st. BMO Capital Markets restated a “buy” rating on shares of CGI in a research note on Wednesday, January 16th. Finally, Raymond James restated a “buy” rating on shares of CGI in a research note on Tuesday, January 8th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $79.00.

Shares of CGI stock traded up $0.38 during trading hours on Friday, reaching $70.93. 133,225 shares of the company were exchanged, compared to its average volume of 159,504. CGI Inc has a 1 year low of $57.16 and a 1 year high of $71.46. The company has a current ratio of 1.14, a quick ratio of 0.83 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $19.46 billion, a P/E ratio of 22.10, a P/E/G ratio of 2.23 and a beta of 0.55.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, January 30th. The technology company reported $0.85 earnings per share 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 return on equity of 18.11% and a net margin of 10.01%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 earnings per share. Sell-side analysts predict that CGI Inc will post 3.54 earnings per share for the current year.

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CGI Profile

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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Institutional Ownership by Quarter for CGI (NYSE:GIB)

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