CGI Inc. (NYSE:GIB) Shares Sold by QV Investors Inc.

QV Investors Inc. lowered its stake in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 9.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 617,544 shares of the technology company's stock after selling 65,422 shares during the quarter. CGI makes up about 6.0% of QV Investors Inc.'s investment portfolio, making the stock its largest holding. QV Investors Inc. owned approximately 0.27% of CGI worth $66,480,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in GIB. American Century Companies Inc. boosted its holdings in CGI by 23.0% in the first quarter. American Century Companies Inc. now owns 15,630 shares of the technology company's stock worth $1,245,000 after purchasing an additional 2,921 shares during the period. Natixis Advisors L.P. acquired a new position in CGI in the first quarter worth $1,522,000. BlackRock Inc. boosted its holdings in CGI by 5.4% in the first quarter. BlackRock Inc. now owns 262,287 shares of the technology company's stock worth $20,939,000 after purchasing an additional 13,426 shares during the period. Dimensional Fund Advisors LP boosted its holdings in CGI by 10.4% in the first quarter. Dimensional Fund Advisors LP now owns 343,162 shares of the technology company's stock worth $27,395,000 after purchasing an additional 32,280 shares during the period. Finally, Vontobel Holding Ltd. boosted its holdings in CGI by 46.9% in the first quarter. Vontobel Holding Ltd. now owns 12,535 shares of the technology company's stock worth $1,014,000 after purchasing an additional 4,000 shares during the period. Institutional investors and hedge funds own 66.68% of the company's stock.

CGI Stock Performance

GIB stock traded down $0.19 during mid-day trading on Friday, reaching $106.59. The company had a trading volume of 98,049 shares, compared to its average volume of 136,331. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $24.76 billion, a P/E ratio of 20.78, a P/E/G ratio of 1.97 and a beta of 0.92. CGI Inc. has a one year low of $93.07 and a one year high of $118.89. The stock's 50-day simple moving average is $113.61 and its two-hundred day simple moving average is $106.31.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last posted its earnings results on Wednesday, January 31st. The technology company reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.03. The company had revenue of $2.65 billion for 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%. Research analysts anticipate that CGI Inc. will post 5.71 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut CGI from a "buy" rating to a "hold" rating in a research note 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.