Shell Asset Management Co. Sells 1,945 Shares of CGI Inc. (NYSE:GIB)

Shell Asset Management Co. cut its holdings in shares of CGI Inc. (NYSE:GIBGet Rating) (TSE:GIB.A) by 49.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,957 shares of the technology company’s stock after selling 1,945 shares during the quarter. Shell Asset Management Co.’s holdings in CGI were worth $156,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of CGI by 106.8% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 856,000 shares of the technology company’s stock valued at $68,186,000 after buying an additional 442,000 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. increased its stake in shares of CGI by 46.9% during the second quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 237,266 shares of the technology company’s stock valued at $18,900,000 after buying an additional 75,766 shares during the period. Bank of Nova Scotia Trust Co. increased its stake in shares of CGI by 0.4% during the second quarter. Bank of Nova Scotia Trust Co. now owns 153,662 shares of the technology company’s stock valued at $12,241,000 after buying an additional 538 shares during the period. Personal Capital Advisors Corp grew its stake in CGI by 247.6% in the second quarter. Personal Capital Advisors Corp now owns 11,418 shares of the technology company’s stock worth $910,000 after purchasing an additional 8,133 shares during the period. Finally, Aviva PLC grew its stake in CGI by 46.7% in the second quarter. Aviva PLC now owns 95,291 shares of the technology company’s stock worth $7,591,000 after purchasing an additional 30,328 shares during the period. 48.92% of the stock is owned by hedge funds and other institutional investors.

CGI Stock Up 0.7 %

Shares of CGI stock opened at $85.36 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.87 and a current ratio of 1.19. The company has a 50-day simple moving average of $78.73 and a two-hundred day simple moving average of $80.74. CGI Inc. has a 52-week low of $72.23 and a 52-week high of $89.04. The stock has a market capitalization of $20.38 billion, a PE ratio of 18.05, a price-to-earnings-growth ratio of 1.86 and a beta of 0.94.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GIB shares. Royal Bank of Canada upped their price target on CGI from C$120.00 to C$130.00 in a research note on Thursday, July 28th. StockNews.com upgraded CGI from a “hold” rating to a “buy” rating in a report on Friday. Societe Generale lowered CGI from a “buy” rating to a “hold” rating in a research report on Monday, November 14th. They noted that the move was a valuation call. Desjardins increased their price objective on shares of CGI from C$126.00 to C$130.00 in a research report on Thursday, November 10th. Finally, BMO Capital Markets lifted their target price on shares of CGI from C$120.00 to C$125.00 in a report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, CGI currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.05.

About CGI

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CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada; Western, Southern, Central, and Eastern Europe; Australia; Scandinavia; Finland, Poland, and Baltics; the United States; the United Kingdom; 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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