Addenda Capital Inc. Has $46.57 Million Stock Position in CGI Inc. (NYSE:GIB)

Addenda Capital Inc. cut its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 3.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 421,439 shares of the technology company’s stock after selling 13,428 shares during the period. CGI accounts for about 2.2% of Addenda Capital Inc.’s investment portfolio, making the stock its 11th biggest position. Addenda Capital Inc.’s holdings in CGI were worth $46,565,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Group One Trading L.P. bought a new stake in CGI during the 3rd quarter worth about $36,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of CGI in the 3rd quarter valued at $400,000. Envestnet Asset Management Inc. boosted its position in shares of CGI by 1.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 143,801 shares of the technology company’s stock worth $14,177,000 after purchasing an additional 1,478 shares during the last quarter. Mariner LLC increased its holdings in CGI by 10.4% in the third quarter. Mariner LLC now owns 10,709 shares of the technology company’s stock valued at $1,055,000 after purchasing an additional 1,005 shares during the last quarter. Finally, Natixis Advisors L.P. lifted its stake in CGI by 23.3% in the third quarter. Natixis Advisors L.P. now owns 22,443 shares of the technology company’s stock valued at $2,210,000 after buying an additional 4,237 shares during the period. Institutional investors and hedge funds own 66.68% of the company’s stock.

Analysts Set New Price Targets

GIB has been the subject of several analyst reports. TD Securities upgraded CGI from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. StockNews.com lowered shares of CGI from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Finally, CIBC lowered shares of CGI from a “sector outperform” rating to a “neutral” rating in a report on Friday, June 21st.

CGI Stock Down 0.6 %

NYSE GIB traded down $0.59 during trading hours on Friday, reaching $99.77. 286,947 shares of the company’s stock were exchanged, compared to its average volume of 156,403. The company has a market capitalization of $23.02 billion, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 2.32 and a beta of 0.95. CGI Inc. has a one year low of $93.07 and a one year high of $118.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.17. The company’s 50-day moving average is $101.87 and its two-hundred day moving average is $107.25.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its earnings results on Wednesday, May 1st. The technology company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.02. CGI had a net margin of 11.38% and a return on equity of 20.43%. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.79 billion. On average, analysts forecast that CGI Inc. will post 5.57 EPS for the current fiscal year.

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.