Mn Services Vermogensbeheer B.V. Lowers Stock Holdings in CGI Inc. (NYSE:GIB)

Mn Services Vermogensbeheer B.V. reduced its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 2.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,033 shares of the technology company’s stock after selling 1,900 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in CGI were worth $9,104,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GIB. Janus Henderson Group PLC boosted its holdings in CGI by 3,776.8% in the 1st quarter. Janus Henderson Group PLC now owns 699,798 shares of the technology company’s stock valued at $77,381,000 after purchasing an additional 681,747 shares during the period. Bessemer Group Inc. grew its position in CGI by 9,135.3% during the first quarter. Bessemer Group Inc. now owns 126,986 shares of the technology company’s stock worth $14,011,000 after buying an additional 125,611 shares in the last quarter. Andra AP fonden bought a new position in CGI in the 2nd quarter worth about $11,418,000. Dimensional Fund Advisors LP raised its holdings in shares of CGI by 22.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 625,106 shares of the technology company’s stock valued at $62,394,000 after acquiring an additional 113,903 shares in the last quarter. Finally, Intact Investment Management Inc. bought a new stake in shares of CGI during the 2nd quarter valued at about $11,222,000. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Stock Up 0.8 %

Shares of NYSE:GIB opened at $112.84 on Wednesday. The stock has a market capitalization of $25.72 billion, a P/E ratio of 21.33, a price-to-earnings-growth ratio of 2.37 and a beta of 0.96. The stock’s 50-day moving average price is $113.94 and its 200-day moving average price is $107.54. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22. CGI Inc. has a 12-month low of $96.92 and a 12-month high of $118.89.

Analyst Ratings Changes

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

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.