Ritholtz Wealth Management Raises Stake in CGI Inc. (NYSE:GIB)

Ritholtz Wealth Management lifted its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,773 shares of the technology company’s stock after buying an additional 218 shares during the period. Ritholtz Wealth Management’s holdings in CGI were worth $2,656,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wetherby Asset Management Inc. lifted its position in CGI by 1.4% in the first quarter. Wetherby Asset Management Inc. now owns 7,340 shares of the technology company’s stock valued at $707,000 after purchasing an additional 101 shares during the period. Hollencrest Capital Management grew its holdings in CGI by 14.3% during the first quarter. Hollencrest Capital Management now owns 902 shares of the technology company’s stock worth $87,000 after acquiring an additional 113 shares during the period. Janiczek Wealth Management LLC raised its position in CGI by 4.3% in the third quarter. Janiczek Wealth Management LLC now owns 3,197 shares of the technology company’s stock worth $315,000 after acquiring an additional 131 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in CGI by 3.7% in the third quarter. First Trust Direct Indexing L.P. now owns 4,059 shares of the technology company’s stock valued at $400,000 after acquiring an additional 146 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in CGI by 6.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 2,477 shares of the technology company’s stock valued at $244,000 after acquiring an additional 158 shares during the period. Hedge funds and other institutional investors own 66.68% of the company’s stock.

Analysts Set New Price Targets

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

CGI Price Performance

CGI stock traded up $0.55 during mid-day trading on Thursday, reaching $110.49. The company had a trading volume of 186,002 shares, compared to its average volume of 135,431. The stock’s 50-day simple moving average is $113.56 and its 200-day simple moving average is $106.02. The company has a market capitalization of $25.67 billion, a P/E ratio of 21.54, a P/E/G ratio of 2.02 and a beta of 0.92. 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 Inc. has a 1 year low of $93.07 and a 1 year high of $118.89.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, January 31st. The technology company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 20.65% and a net margin of 11.34%. On average, equities analysts predict that CGI Inc. will post 5.71 EPS for the current year.

CGI Company 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.