Addenda Capital Inc. Sells 15,095 Shares of CGI Inc. (NYSE:GIB)

Addenda Capital Inc. decreased its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 3.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 406,344 shares of the technology company’s stock after selling 15,095 shares during the period. CGI accounts for about 2.0% of Addenda Capital Inc.’s portfolio, making the stock its 13th biggest position. Addenda Capital Inc. owned 0.18% of CGI worth $40,557,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GIB. International Assets Investment Management LLC bought a new stake in shares of CGI during the 4th quarter valued at about $59,190,000. Cerity Partners LLC boosted its holdings in CGI by 32.6% in the fourth quarter. Cerity Partners LLC now owns 3,772 shares of the technology company’s stock worth $404,000 after acquiring an additional 927 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in CGI by 5.7% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 626,075 shares of the technology company’s stock worth $67,291,000 after acquiring an additional 33,811 shares in the last quarter. DGS Capital Management LLC boosted its holdings in CGI by 13.4% in the fourth quarter. DGS Capital Management LLC now owns 26,609 shares of the technology company’s stock worth $2,853,000 after acquiring an additional 3,146 shares in the last quarter. Finally, Western Wealth Management LLC bought a new position in CGI in the fourth quarter worth approximately $214,000. Institutional investors own 66.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on GIB shares. Jefferies Financial Group increased their price target on CGI from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. TD Securities upgraded CGI from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd. Sanford C. Bernstein upgraded CGI to a “strong-buy” rating in a report on Thursday, August 1st. CIBC lowered CGI from a “sector outperform” rating to a “neutral” rating in a report on Friday, June 21st. Finally, UBS Group assumed coverage on CGI in a research note on Friday, July 19th. They issued a “neutral” rating and a $112.00 price objective for the company. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $132.67.

CGI Stock Up 0.4 %

Shares of CGI stock traded up $0.44 on Wednesday, hitting $107.74. The company had a trading volume of 130,038 shares, compared to its average volume of 158,189. The stock has a market capitalization of $24.86 billion, a price-to-earnings ratio of 20.77, a P/E/G ratio of 2.59 and a beta of 0.95. CGI Inc. has a 1 year low of $93.07 and a 1 year high of $118.89. The stock has a 50 day moving average of $103.84 and a 200-day moving average of $107.11. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.16.

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.