BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in shares of CGI Inc (NYSE:GIB) (TSE:GIB.A) during the 1st quarter, Holdings Channel reports. The institutional investor purchased 771,295 shares of the technology company’s stock, valued at approximately $70,859,000.
Several other large investors have also recently made changes to their positions in GIB. Parallel Advisors LLC lifted its stake in CGI by 59.0% in the 1st quarter. Parallel Advisors LLC now owns 574 shares of the technology company’s stock valued at $39,000 after buying an additional 213 shares in the last quarter. Bartlett & Co. LLC purchased a new stake in CGI in the 1st quarter valued at approximately $56,000. NumerixS Investment Technologies Inc purchased a new stake in CGI in the 4th quarter valued at approximately $90,000. Neuburgh Advisers LLC purchased a new stake in CGI in the 4th quarter valued at approximately $111,000. Finally, Beutel Goodman & Co Ltd. purchased a new stake in CGI in the 1st quarter valued at approximately $188,000. 58.75% of the stock is currently owned by institutional investors and hedge funds.
GIB stock opened at $72.75 on Tuesday. CGI Inc has a 1 year low of $57.35 and a 1 year high of $73.56. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 1.16. The company has a market capitalization of $19.89 billion, a P/E ratio of 22.66, a P/E/G ratio of 2.27 and a beta of 0.57.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research lowered CGI from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. CIBC lowered CGI from a “sector outperform” rating to a “neutral” rating in a research note on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $79.00.
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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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