Cigna Investments Inc. New Purchases 146 Shares of CGI Inc. (NYSE:GIB)

Cigna Investments Inc. New boosted its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 3.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,948 shares of the technology company’s stock after purchasing an additional 146 shares during the period. Cigna Investments Inc. New’s holdings in CGI were worth $394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of GIB. Hexagon Capital Partners LLC raised its holdings in shares of CGI by 297.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 270 shares of the technology company’s stock worth $29,000 after buying an additional 202 shares during the period. Dixon Mitchell Investment Counsel Inc. bought a new position in CGI in the 1st quarter worth about $30,000. UMB Bank n.a. increased its holdings in CGI by 9,916.7% during the 1st quarter. UMB Bank n.a. now owns 601 shares of the technology company’s stock worth $66,000 after purchasing an additional 595 shares during the period. CWM LLC increased its stake in shares of CGI by 19.1% during the first quarter. CWM LLC now owns 1,185 shares of the technology company’s stock valued at $131,000 after buying an additional 190 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of CGI by 41.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,978 shares of the technology company’s stock valued at $212,000 after purchasing an additional 579 shares in the last quarter. Hedge funds and other institutional investors own 66.68% of the company’s stock.

Analysts Set New Price Targets

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

CGI Stock Performance

Shares of GIB stock traded up $1.08 during trading hours on Thursday, hitting $108.82. The company’s stock had a trading volume of 106,637 shares, compared to its average volume of 157,861. The stock has a market cap of $25.11 billion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 2.59 and a beta of 0.95. CGI Inc. has a 12-month low of $93.07 and a 12-month high of $118.89. The company has a 50 day moving average of $103.98 and a 200 day moving average of $107.11. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22.

About CGI

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.