Walter Public Investments Inc. Has $26.19 Million Stock Position in CGI Inc. (NYSE:GIB)

Walter Public Investments Inc. raised its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 10.5% in the third quarter, Holdings Channel.com reports. The firm owned 227,796 shares of the technology company’s stock after purchasing an additional 21,582 shares during the period. CGI comprises 4.6% of Walter Public Investments Inc.’s portfolio, making the stock its 3rd largest holding. Walter Public Investments Inc.’s holdings in CGI were worth $26,194,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Affirmative Financial Network increased its position in shares of CGI by 4.0% during the second quarter. First Affirmative Financial Network now owns 2,841 shares of the technology company’s stock valued at $284,000 after acquiring an additional 109 shares in the last quarter. Cigna Investments Inc. New increased its position in shares of CGI by 3.8% during the second quarter. Cigna Investments Inc. New now owns 3,948 shares of the technology company’s stock valued at $394,000 after acquiring an additional 146 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of CGI by 0.5% during the first quarter. Sequoia Financial Advisors LLC now owns 30,933 shares of the technology company’s stock valued at $3,418,000 after acquiring an additional 149 shares in the last quarter. JCIC Asset Management Inc. increased its position in shares of CGI by 0.5% during the first quarter. JCIC Asset Management Inc. now owns 32,860 shares of the technology company’s stock valued at $3,627,000 after acquiring an additional 160 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of CGI by 9.2% during the second quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock valued at $205,000 after acquiring an additional 173 shares in the last quarter. Institutional investors own 66.68% of the company’s stock.

CGI Trading Down 0.7 %

Shares of CGI stock opened at $114.67 on Thursday. The company’s fifty day simple moving average is $112.51 and its 200-day simple moving average is $106.78. The stock has a market capitalization of $26.46 billion, a PE ratio of 22.09, a P/E/G ratio of 2.45 and a beta of 0.95. CGI Inc. has a 1-year low of $93.07 and a 1-year high of $118.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 0.86.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.40 earnings per share for the quarter, hitting the consensus estimate of $1.40. The business had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.67 billion. CGI had a net margin of 11.51% and a return on equity of 20.21%. As a group, equities analysts anticipate that CGI Inc. will post 5.55 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and raised their target price for the stock from $155.00 to $178.00 in a report on Tuesday. UBS Group assumed coverage on shares of CGI in a report on Friday, July 19th. They issued a “neutral” rating and a $112.00 target price on the stock. Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Sanford C. Bernstein upgraded shares of CGI to a “strong-buy” rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group raised their target price on shares of CGI from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $137.00.

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.