Desjardins Global Asset Management Inc. Sells 1,138 Shares of CGI Inc. (NYSE:GIB)

Desjardins Global Asset Management Inc. trimmed its stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 53.5% during the 4th quarter, HoldingsChannel reports. The fund owned 988 shares of the technology company’s stock after selling 1,138 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in CGI were worth $106,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in CGI by 1.8% in the third quarter. Vanguard Group Inc. now owns 7,578,327 shares of the technology company’s stock worth $746,389,000 after acquiring an additional 132,166 shares in the last quarter. Bank of Nova Scotia raised its stake in shares of CGI by 100.0% in the third quarter. Bank of Nova Scotia now owns 1,404,616 shares of the technology company’s stock worth $138,450,000 after purchasing an additional 702,339 shares during the last quarter. Prime Capital Investment Advisors LLC purchased a new position in shares of CGI in the fourth quarter worth $1,409,000. MQS Management LLC raised its stake in shares of CGI by 26.3% in the third quarter. MQS Management LLC now owns 3,859 shares of the technology company’s stock worth $380,000 after purchasing an additional 804 shares during the last quarter. Finally, Pinnacle Associates Ltd. raised its stake in shares of CGI by 100.0% in the fourth quarter. Pinnacle Associates Ltd. now owns 8,000 shares of the technology company’s stock worth $858,000 after purchasing an additional 4,000 shares during the last quarter. 66.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

CGI Stock Up 0.1 %

GIB stock opened at $104.01 on Friday. CGI Inc. has a 1-year low of $93.07 and a 1-year high of $118.89. The business has a fifty day moving average price of $112.00 and a 200-day moving average price of $106.60. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.11 and a quick ratio of 0.86. The stock has a market capitalization of $24.16 billion, a P/E ratio of 20.27, a P/E/G ratio of 1.92 and a beta of 0.92.

CGI (NYSE:GIB) (TSE:GIB.A) last posted 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. CGI had a return on equity of 20.65% and a net margin of 11.34%. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Equities analysts forecast that CGI Inc. will post 5.71 earnings per share for the current fiscal 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.