National Bank of Canada FI Purchases 129,020 Shares of CGI Inc. (NYSE:GIB)

National Bank of Canada FI lifted its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 3.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,711,372 shares of the technology company’s stock after buying an additional 129,020 shares during the period. CGI comprises 0.6% of National Bank of Canada FI’s portfolio, making the stock its 25th largest holding. National Bank of Canada FI owned about 1.60% of CGI worth $385,239,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Exchange Traded Concepts LLC lifted its position in CGI by 471.7% during the third 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 during the period. Hexagon Capital Partners LLC lifted its position in CGI by 297.1% during the fourth quarter. Hexagon Capital Partners LLC now owns 270 shares of the technology company’s stock valued at $29,000 after purchasing an additional 202 shares during the period. Group One Trading L.P. bought a new position in CGI during the third quarter valued at approximately $36,000. Quantbot Technologies LP bought a new position in CGI during the third quarter valued at approximately $41,000. Finally, Allworth Financial LP lifted its position in CGI by 130.9% during the third quarter. Allworth Financial LP now owns 651 shares of the technology company’s stock valued at $64,000 after purchasing an additional 369 shares during the period. Institutional investors own 66.68% of the company’s stock.

CGI Stock Performance

GIB stock traded up $1.57 during midday trading on Friday, reaching $103.68. 181,289 shares of the company’s stock traded hands, compared to its average volume of 189,499. The stock’s 50-day moving average is $110.10 and its 200 day moving average is $106.86. The company has a current ratio of 1.17, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22. The stock has a market cap of $24.09 billion, a P/E ratio of 19.98, a PEG ratio of 2.32 and a beta of 0.93. CGI Inc. has a 52-week low of $93.07 and a 52-week high of $118.89.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.59 billion. CGI had a net margin of 11.38% and a return on equity of 20.43%. As a group, analysts anticipate that CGI Inc. will post 5.68 EPS for the current year.

Wall Street Analyst Weigh In

GIB has been the topic of a number of research analyst reports. StockNews.com downgraded shares of CGI from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. CIBC reduced their target price on shares of CGI from $169.00 to $165.00 and set an “outperformer” rating for the company in a report on Thursday. Finally, TD Securities raised shares of CGI from a “hold” rating to a “buy” rating in a report on Thursday.

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.