Kempen Capital Management N.V. Trims Position in CGI Inc (NYSE:GIB)

Kempen Capital Management N.V. lessened its holdings in shares of CGI Inc (NYSE:GIB) (TSE:GIB.A) by 30.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,569 shares of the technology company’s stock after selling 5,054 shares during the quarter. Kempen Capital Management N.V.’s holdings in CGI were worth $1,165,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of CGI by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 6,756,177 shares of the technology company’s stock worth $518,672,000 after purchasing an additional 182,536 shares during the period. National Pension Service purchased a new position in shares of CGI during the 2nd quarter worth $33,245,000. Qtron Investments LLC lifted its stake in shares of CGI by 96.2% during the 2nd quarter. Qtron Investments LLC now owns 8,384 shares of the technology company’s stock worth $646,000 after purchasing an additional 4,111 shares during the period. US Bancorp DE lifted its stake in shares of CGI by 20.5% during the 2nd quarter. US Bancorp DE now owns 5,005 shares of the technology company’s stock worth $384,000 after purchasing an additional 850 shares during the period. Finally, AXA lifted its stake in shares of CGI by 35.3% during the 2nd quarter. AXA now owns 245,874 shares of the technology company’s stock worth $18,875,000 after purchasing an additional 64,100 shares during the period. 55.19% of the stock is currently owned by institutional investors.

Shares of GIB traded down $0.21 during trading hours on Wednesday, hitting $77.85. The stock had a trading volume of 1,785 shares, compared to its average volume of 124,945. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.75 and a current ratio of 1.09. The firm has a market cap of $20.92 billion, a P/E ratio of 24.22, a P/E/G ratio of 2.33 and a beta of 0.55. The company’s fifty day simple moving average is $77.62 and its 200 day simple moving average is $73.94. CGI Inc has a 12-month low of $57.35 and a 12-month high of $80.59.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, July 31st. The technology company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.01). The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.15 billion. CGI had a return on equity of 18.78% and a net margin of 10.32%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business posted $1.08 earnings per share. As a group, sell-side analysts predict that CGI Inc will post 3.58 earnings per share for the current fiscal year.

A number of research analysts have weighed in on the company. National Bank Financial reissued a “buy” rating on shares of CGI in a research note on Wednesday, July 31st. Bank of America began coverage on CGI in a research report on Thursday, May 23rd. They issued a “buy” rating and a $83.00 target price on the stock. Zacks Investment Research lowered CGI from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Societe Generale lowered CGI from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. CGI currently has an average rating of “Buy” and a consensus target price of $87.67.

CGI Company Profile

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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Institutional Ownership by Quarter for CGI (NYSE:GIB)

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