Swiss National Bank Lowers Position in CGI Inc. (NYSE:GIB)

Swiss National Bank decreased its holdings in shares of CGI Inc. (NYSE:GIBFree Report) (TSE:GIB.A) by 11.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 709,200 shares of the technology company’s stock after selling 87,400 shares during the quarter. Swiss National Bank owned 0.30% of CGI worth $70,496,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Exchange Traded Concepts LLC raised its stake in CGI by 471.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 263 shares of the technology company’s stock worth $26,000 after acquiring an additional 217 shares during the last quarter. Belpointe Asset Management LLC raised its stake in CGI by 2,507.1% in the 1st quarter. Belpointe Asset Management LLC now owns 365 shares of the technology company’s stock worth $35,000 after acquiring an additional 351 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of CGI in the 3rd quarter valued at about $41,000. Pinebridge Investments L.P. acquired a new stake in CGI in the 2nd quarter worth about $52,000. Finally, Allworth Financial LP boosted its holdings in CGI by 130.9% in the 3rd quarter. Allworth Financial LP now owns 651 shares of the technology company’s stock worth $64,000 after buying an additional 369 shares during the last quarter. Institutional investors own 49.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut CGI from a “buy” rating to a “hold” rating in a report on Monday.

Get Our Latest Report on GIB

CGI Trading Down 0.3 %

Shares of CGI stock opened at $111.47 on Wednesday. The stock has a market cap of $25.90 billion, a P/E ratio of 21.73, a P/E/G ratio of 2.18 and a beta of 0.93. The stock’s 50 day simple moving average is $106.77 and its 200-day simple moving average is $102.66. CGI Inc. has a 1-year low of $88.74 and a 1-year high of $116.03. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.11 and a quick ratio of 0.86.

CGI (NYSE:GIBGet Free Report) (TSE:GIB.A) last released its quarterly earnings data on Wednesday, November 8th. The technology company reported $1.33 EPS for the quarter, meeting analysts’ consensus estimates of $1.33. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.62 billion. CGI had a return on equity of 20.65% and a net margin of 11.34%. Analysts predict that CGI Inc. will post 5.72 EPS for the current fiscal year.

CGI Profile

(Free Report)

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.

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Institutional Ownership by Quarter for CGI (NYSE:GIB)

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