Ritholtz Wealth Management Purchases 218 Shares of CGI Inc. (NYSE:GIB)

Ritholtz Wealth Management increased its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,773 shares of the technology company’s stock after acquiring an additional 218 shares during the period. Ritholtz Wealth Management’s holdings in CGI were worth $2,656,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Exchange Traded Concepts LLC boosted its holdings in shares of CGI by 471.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 263 shares of the technology company’s stock valued at $26,000 after purchasing an additional 217 shares in the last quarter. Group One Trading L.P. bought a new position in CGI in the third quarter valued at about $36,000. Belpointe Asset Management LLC raised its stake in CGI by 2,507.1% during the first quarter. Belpointe Asset Management LLC now owns 365 shares of the technology company’s stock worth $35,000 after acquiring an additional 351 shares in the last quarter. Pinebridge Investments L.P. bought a new position in shares of CGI in the second quarter worth about $52,000. Finally, Quantbot Technologies LP acquired a new stake in shares of CGI in the 3rd quarter valued at approximately $41,000. Institutional investors and hedge funds own 66.68% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut shares of CGI from a “buy” rating to a “hold” rating in a research report on Monday, March 11th.

CGI Price Performance

Shares of GIB traded up $0.55 during trading hours on Thursday, reaching $110.49. The stock had a trading volume of 186,002 shares, compared to its average volume of 135,431. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.11. The stock has a market capitalization of $25.67 billion, a PE ratio of 21.54, a PEG ratio of 2.02 and a beta of 0.92. CGI Inc. has a 12 month low of $93.07 and a 12 month high of $118.89. The company’s 50-day moving average is $113.56 and its two-hundred day moving average is $106.02.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, January 31st. The technology company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.03. The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.59 billion. CGI had a return on equity of 20.65% and a net margin of 11.34%. Research analysts expect that CGI Inc. will post 5.71 EPS for the current year.

About CGI

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.