Connectus Wealth LLC Purchases New Position in CGI Inc. (NYSE:GIB)

Connectus Wealth LLC purchased a new stake in CGI Inc. (NYSE:GIBFree Report) (TSE:GIB.A) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 9,000 shares of the technology company’s stock, valued at approximately $965,000.

Several other large investors have also added to or reduced their stakes in the business. Janiczek Wealth Management LLC grew its stake in CGI by 4.5% in the 4th quarter. Janiczek Wealth Management LLC now owns 3,340 shares of the technology company’s stock valued at $358,000 after buying an additional 143 shares in the last quarter. Truist Financial Corp grew its stake in CGI by 6.2% in the 4th quarter. Truist Financial Corp now owns 3,402 shares of the technology company’s stock valued at $365,000 after buying an additional 198 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in CGI by 297.1% in the 4th 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. Aviva PLC boosted its holdings in CGI by 2.5% in the 3rd quarter. Aviva PLC now owns 8,323 shares of the technology company’s stock valued at $823,000 after purchasing an additional 204 shares during the period. Finally, Ritholtz Wealth Management boosted its holdings in CGI by 0.9% in the 4th quarter. Ritholtz Wealth Management now owns 24,773 shares of the technology company’s stock valued at $2,656,000 after purchasing an additional 218 shares during the period. Institutional investors own 66.68% of the company’s stock.

CGI Price Performance

GIB stock opened at $101.60 on Tuesday. The firm’s 50-day moving average price is $103.46 and its two-hundred day moving average price is $107.58. CGI Inc. has a 12-month low of $93.07 and a 12-month high of $118.89. The stock has a market capitalization of $23.45 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 2.35 and a beta of 0.95. The company has a current ratio of 1.17, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22.

CGI (NYSE:GIBGet Free Report) (TSE:GIB.A) last announced its quarterly earnings results on Wednesday, May 1st. The technology company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.02. CGI had a net margin of 11.38% and a return on equity of 20.43%. The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.79 billion. As a group, equities analysts predict that CGI Inc. will post 5.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. TD Securities raised shares of CGI from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd. StockNews.com downgraded shares of CGI from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Finally, CIBC dropped their price objective on shares of CGI from $169.00 to $165.00 and set an “outperformer” rating for the company in a report on Thursday, May 2nd.

Check Out Our Latest Stock Analysis on GIB

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.

Further Reading

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Institutional Ownership by Quarter for CGI (NYSE:GIB)

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