Burgundy Asset Management Ltd. Cuts Stock Position in CGI Inc. (NYSE:GIB)

Burgundy Asset Management Ltd. lessened its holdings in CGI Inc. (NYSE:GIB – Get Rating) (TSE:GIB.A) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 770,840 shares of the technology company’s stock after selling 25,573 shares during the period. Burgundy Asset Management Ltd. owned about 0.32% of CGI worth $66,424,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GIB. Signaturefd LLC increased its stake in CGI by 20.3% during the 4th quarter. Signaturefd LLC now owns 7,279 shares of the technology company’s stock worth $627,000 after buying an additional 1,227 shares during the period. Ritholtz Wealth Management increased its stake in CGI by 106.5% during the 4th quarter. Ritholtz Wealth Management now owns 14,429 shares of the technology company’s stock worth $1,243,000 after buying an additional 7,441 shares during the period. Aviva PLC increased its position in shares of CGI by 38.6% in the 3rd quarter. Aviva PLC now owns 132,031 shares of the technology company’s stock worth $9,985,000 after purchasing an additional 36,740 shares during the last quarter. Metis Global Partners LLC increased its position in shares of CGI by 11.8% in the 4th quarter. Metis Global Partners LLC now owns 7,777 shares of the technology company’s stock worth $670,000 after purchasing an additional 820 shares during the last quarter. Finally, Toronto Dominion Bank increased its position in shares of CGI by 6.4% in the 4th quarter. Toronto Dominion Bank now owns 926,970 shares of the technology company’s stock worth $80,715,000 after purchasing an additional 55,876 shares during the last quarter. Hedge funds and other institutional investors own 48.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GIB. CIBC boosted their price objective on shares of CGI from C$140.00 to C$146.00 in a research report on Thursday, February 2nd. StockNews.com began coverage on shares of CGI in a research report on Thursday. They set a “hold” rating for the company. Raymond James boosted their price objective on shares of CGI from C$134.00 to C$138.00 in a research report on Thursday, February 2nd. Royal Bank of Canada upped their target price on shares of CGI from C$130.00 to C$145.00 in a research report on Thursday, February 2nd. Finally, Scotiabank upped their target price on shares of CGI from C$135.00 to C$140.00 in a research report on Thursday, February 2nd.

CGI Price Performance

Shares of CGI stock traded up $0.76 on Friday, hitting $104.95. The company had a trading volume of 60,099 shares, compared to its average volume of 151,902. The business has a 50-day simple moving average of $97.74 and a 200-day simple moving average of $90.68. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.08 and a quick ratio of 0.81. The company has a market cap of $24.71 billion, a PE ratio of 21.71, a PEG ratio of 2.13 and a beta of 0.93. CGI Inc. has a 52 week low of $72.23 and a 52 week high of $105.06.

About CGI

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CGI, Inc engages in the provision of information technology and consulting services. It operates through the following segments: Western and Southern Europe, U.S. Commercial and State Government, Canada, U.S. Federal, Scandinavia and Central Europe, UK and Australia; Finland, Poland, and Baltics, Northwest and Central-East Europe, and Asia Pacific.

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