Desjardins Global Asset Management Inc. Has $106,000 Holdings in CGI Inc. (NYSE:GIB)

Desjardins Global Asset Management Inc. cut its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 53.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm 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 institutional investors have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC lifted its stake in CGI by 471.7% in the third quarter. Exchange Traded Concepts LLC now owns 263 shares of the technology company’s stock valued at $26,000 after buying an additional 217 shares during the period. Belpointe Asset Management LLC grew 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 valued at $35,000 after purchasing an additional 351 shares during the period. Group One Trading L.P. bought a new position in CGI in the 3rd quarter valued at $36,000. Quantbot Technologies LP bought a new position in CGI in the 3rd quarter valued at $41,000. Finally, Allworth Financial LP grew its stake in CGI by 130.9% in the 3rd quarter. Allworth Financial LP now owns 651 shares of the technology company’s stock valued at $64,000 after purchasing an additional 369 shares during the period. 66.68% of the stock is owned by institutional investors and hedge funds.

CGI Stock Up 0.1 %

Shares of NYSE:GIB opened at $104.01 on Friday. The company has a market capitalization of $24.16 billion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 1.92 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. The business has a fifty day moving average price of $112.00 and a two-hundred day moving average price of $106.60. 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 results on Wednesday, January 31st. The technology company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.59 billion. Analysts forecast that CGI Inc. will post 5.71 earnings per share for the current year.

Analysts Set New Price Targets

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

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.