CGI Inc. (NYSE:GIB) is New South Capital Management Inc.’s 10th Largest Position

New South Capital Management Inc. cut its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 630,008 shares of the technology company’s stock after selling 9,893 shares during the period. CGI accounts for 2.8% of New South Capital Management Inc.’s portfolio, making the stock its 10th biggest position. New South Capital Management Inc. owned approximately 0.27% of CGI worth $62,881,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GIB. Lloyd Advisory Services LLC. bought a new position in CGI in the 2nd quarter worth $299,000. TD Asset Management Inc increased its stake in shares of CGI by 2.0% in the 2nd quarter. TD Asset Management Inc now owns 2,203,320 shares of the technology company’s stock worth $219,873,000 after acquiring an additional 43,355 shares in the last quarter. Fiera Capital Corp lifted its position in CGI by 1.9% during the 2nd quarter. Fiera Capital Corp now owns 4,269,775 shares of the technology company’s stock valued at $426,353,000 after acquiring an additional 79,303 shares during the period. Versor Investments LP bought a new stake in CGI during the second quarter worth about $340,000. Finally, Farther Finance Advisors LLC boosted its stake in CGI by 8.5% during the second quarter. Farther Finance Advisors LLC now owns 6,453 shares of the technology company’s stock worth $639,000 after acquiring an additional 505 shares in the last quarter. Institutional investors own 66.68% of the company’s stock.

CGI Price Performance

Shares of NYSE GIB opened at $111.98 on Friday. The company has a 50 day moving average of $107.55 and a 200 day moving average of $106.81. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.22. CGI Inc. has a twelve month low of $93.07 and a twelve month high of $118.89. The firm has a market cap of $25.84 billion, a P/E ratio of 21.58, a PEG ratio of 2.62 and a beta of 0.95.

Wall Street Analyst Weigh In

GIB has been the subject of a number of analyst reports. Jefferies Financial Group lifted their target price on shares of CGI from $120.00 to $121.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Sanford C. Bernstein upgraded CGI to a “strong-buy” rating in a research note on Thursday, August 1st. UBS Group began coverage on CGI in a research note on Friday, July 19th. They issued a “neutral” rating and a $112.00 target price on the stock. Finally, CIBC downgraded CGI from a “sector outperform” rating to a “neutral” rating in a report on Friday, June 21st. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $132.67.

CGI 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.