The Manufacturers Life Insurance Company disclosed in its most recent 13F filing with the Securities and Exchange Commission that during the third quarter of 2014, the company increased its holdings in CGI Inc. (NYSE: GIB) (TSE: GIB.A) by 14.3%. (SEC). The institutional investor now owns a total of 3,384,656 shares in the technology company after making additional purchases of 424,439 shares over the month. This brings the total number of shares of stock they have acquired to a total of 3,384,439; the most recent filing that the Manufacturers Life Insurance Company made with the SEC indicates that the company owns approximately 1.42% of CGI, which is currently valued at $257,290,000.
Recent months have seen several additional hedge funds adjust the percentage of their total assets held in GIB investments. QV Investors Inc. paid $63,947,000 during the third quarter to acquire a new interest in CGI. This acquisition took place during the third quarter. During the second quarter, Connor Clark & Lunn Investment Management Ltd. made a 106.8 percent purchase of additional CGI stock, bringing the company’s holdings to a total of 1.1 million shares. Connor Clark & Lunn Investment Management Ltd. now has a total of 856,000 shares of the technology company’s stock following the purchase of an additional 442,000 shares during the most recent quarter. The shares have a total value of $68,160,000 because the company has a total of 856,000. During the second quarter, Fiera Capital Corp. was able to amass a 9.5% increase in the percentage of CGI shares held by the company. Following the acquisition of 316,630 additional shares during the most recent fiscal quarter, Fiera Capital Corp. now holds a total of 3,638,153 shares of the technology company’s stock, which have a value of $289,815,000. During the first quarter, Goldman Sachs Group Inc. increased the amount of CGI stock owned by 123.8%, bringing its total ownership percentage to 100%. Goldman Sachs Group Inc. now has a total of 506,007 shares of the technology company’s stock following the purchase of an additional 279,884 shares during the most recent quarter. The stock has an estimated value of $40,394,000, according to Goldman Sachs Group Inc. During the first three months of 2018, Renaissance Technologies LLC saw a growth in the size of its holdings in CGI stock of 315.0%. Renaissance Technologies LLC now has 345,700 shares of the technology company’s stock, valued at $27,585,000, following the acquisition of an additional 262,400 shares during the most recent quarter. 48.54 percent of the company’s stock is owned by institutional investors who have purchased large blocks of shares.
Because of recent happenings, GIB has attracted the interest of various research companies. In a research note published on December 22, TD Securities stated that their price target for CGI had been raised to C$145.00.The previous price target was C$135.00. Raymond James increased their price target for CGI from Canadian $130.00 to Canadian $134.00 in a research note that was published on Thursday, November 10. Desjardins stated in a report made available to the public on November 10 that they had increased their price estimate for CGI from 126.00 Canadian Dollars to 130.00 Canadian Dollars. On Tuesday, December 20, the “buy” recommendation that StockNews.com had previously issued for CGI was changed to a “hold” rating. The investment bank Societe Generale changed its recommendation for CGI from “buy” to “hold” in a research note published on Monday, November 14. This change in recommendation reflects the firm’s position toward the stock. They explained their choice by stating that it was derived from their situation evaluation.
Thursday was the first day of trading for NYSE: GIB and the opening price was $86.30. CGI, Inc. reached an all-time high of $89.11 during the company’s most recent 52-week period, while the company’s 52-week low was $72.23. The moving averages for the past 50 days come in at $85.83 for the company, and the moving averages for the past 200 days come in at $82.36. The stock has a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 1.86, and a beta value of 0.93. These three metrics are based on the stock’s current price. The value of the stock as of right now is $20.52 billion. All the financial ratios, including the debt-to-equity ratio, current, and quick ratio, all equal 0.44. 1.19 is the value of the current ratio, and 0.87 is the value of the quick ratio.
On November 9, CGI (NYSE: GIB) (TSE: GIB.A) announced the results of the most recent quarterly financial report that it had produced. The technology company reported $1.20 per share earnings for the previous quarter, which is $0.02 higher than the average estimate made by market analysts, who predicted earnings of $1.18 per share. CGI had a return on equity of 21.14 percent, while the net margin for the company was 11.4 percent. The company’s revenue for the quarter was $2.49 billion, which is significantly lower than the industry professionals’ estimates of $2.78 billion, which the company provided. In the upcoming fiscal year, equity research professionals anticipate that CGI, Inc. will generate $4.97 per share, bringing the company’s total earnings to $8.24 billion.
CGI, Inc. is a company that operates in the fields of information technology and consulting to offer its services. Its parts include Western and Southern Europe, the United States Federal Government, the Government of Canada, and the state governments of the United States of America; Scandinavian and Central Europe; the United Kingdom and Australia; Finland, Poland, and the Baltics; Northwest and Central-East Europe; and Asia Pacific. The United States Federal Government, the Government of Canada, and the State Governments of the United States of America are also included.
Are you curious or interested in finding out more about the other hedge funds that have holdings in GIB? By going to HoldingsChannel.com, you can review the most recent 13F filings and insider transactions about CGI Inc. (NYSE: GIB) (TSE: GIB.A).