Franklin Resources Inc. Reduces Stake in CGI Inc. (NYSE:GIB)

Franklin Resources Inc. trimmed its position in shares of CGI Inc. (NYSE:GIBGet Rating) (TSE:GIB.A) by 2.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,310,721 shares of the technology company’s stock after selling 35,760 shares during the quarter. Franklin Resources Inc. owned approximately 0.55% of CGI worth $104,407,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Wetherby Asset Management Inc. boosted its position in shares of CGI by 4.0% in the 1st quarter. Wetherby Asset Management Inc. now owns 5,297 shares of the technology company’s stock worth $423,000 after buying an additional 204 shares in the last quarter. Distillate Capital Partners LLC lifted its holdings in shares of CGI by 11.3% in the first quarter. Distillate Capital Partners LLC now owns 2,916 shares of the technology company’s stock valued at $232,000 after purchasing an additional 295 shares in the last quarter. Vident Investment Advisory LLC grew its position in shares of CGI by 4.1% in the first quarter. Vident Investment Advisory LLC now owns 8,157 shares of the technology company’s stock valued at $651,000 after purchasing an additional 319 shares during the last quarter. Gulf International Bank UK Ltd grew its position in shares of CGI by 11.5% in the second quarter. Gulf International Bank UK Ltd now owns 3,186 shares of the technology company’s stock valued at $219,000 after purchasing an additional 329 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in shares of CGI by 59.9% in the second quarter. Parallel Advisors LLC now owns 1,076 shares of the technology company’s stock valued at $86,000 after purchasing an additional 403 shares during the last quarter. Institutional investors and hedge funds own 48.92% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on GIB shares. BMO Capital Markets increased their price target on shares of CGI from C$120.00 to C$125.00 in a research report on Thursday, July 28th. Raymond James increased their price target on shares of CGI from C$130.00 to C$134.00 in a research report on Thursday, November 10th. Scotiabank increased their price target on shares of CGI from C$130.00 to C$135.00 in a research report on Thursday, November 10th. Canaccord Genuity Group increased their price target on shares of CGI from C$120.00 to C$125.00 in a research report on Thursday, July 28th. Finally, TD Securities increased their price target on shares of CGI from C$130.00 to C$135.00 in a research report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $126.05.

CGI Stock Down 0.4 %

Shares of NYSE GIB opened at $85.26 on Thursday. CGI Inc. has a 1 year low of $72.23 and a 1 year high of $89.04. The firm’s 50 day moving average price is $78.92 and its 200 day moving average price is $80.80. The firm has a market cap of $20.35 billion, a P/E ratio of 18.03, a price-to-earnings-growth ratio of 1.88 and a beta of 0.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.87 and a current ratio of 1.19.

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.

See Also

Institutional Ownership by Quarter for CGI (NYSE:GIB)

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