Van ECK Associates Corp Boosts Holdings in CGI Inc. (NYSE:GIB)

Van ECK Associates Corp lifted its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,983 shares of the technology company’s stock after acquiring an additional 1,526 shares during the period. Van ECK Associates Corp’s holdings in CGI were worth $3,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

CGI Price Performance

Shares of GIB opened at $103.70 on Tuesday. The firm has a 50-day simple moving average of $109.62 and a two-hundred day simple moving average of $107.04. The stock has a market cap of $24.09 billion, a PE ratio of 19.98, a P/E/G ratio of 2.39 and a beta of 0.93. 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 1.17 and a quick ratio of 0.86.

Wall Street Analysts Forecast Growth

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

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.