Sequoia Financial Advisors LLC Raises Position in CGI Inc. (NYSE:GIB)

Sequoia Financial Advisors LLC increased its holdings in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 77.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,784 shares of the technology company's stock after acquiring an additional 13,415 shares during the quarter. Sequoia Financial Advisors LLC's holdings in CGI were worth $3,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of GIB. Vanguard Group Inc. increased its stake in CGI by 1.8% during the 3rd 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 in the last quarter. Mackenzie Financial Corp increased its stake in CGI by 15.0% during the 3rd quarter. Mackenzie Financial Corp now owns 6,190,061 shares of the technology company's stock valued at $598,239,000 after purchasing an additional 805,973 shares in the last quarter. Fiera Capital Corp increased its stake in CGI by 3.4% during the 3rd quarter. Fiera Capital Corp now owns 3,813,033 shares of the technology company's stock valued at $376,884,000 after purchasing an additional 125,604 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in CGI by 12.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,505,781 shares of the technology company's stock valued at $348,026,000 after purchasing an additional 401,717 shares in the last quarter. Finally, Norges Bank bought a new stake in CGI during the 4th quarter valued at about $203,388,000. 66.68% of the stock is currently owned by institutional investors.

CGI Stock Performance

Shares of NYSE GIB traded down $1.10 during trading on Friday, reaching $104.44. 178,157 shares of the company traded hands, compared to its average volume of 136,191. The firm has a 50 day simple moving average of $113.12 and a 200-day simple moving average of $106.40. 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 $24.26 billion, a PE ratio of 20.57, a P/E/G ratio of 1.94 and a beta of 0.92. CGI Inc. has a 52-week low of $93.07 and a 52-week high of $118.89.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its quarterly 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 firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.59 billion. CGI had a net margin of 11.34% and a return on equity of 20.65%. Equities research analysts anticipate that CGI Inc. will post 5.71 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of CGI from a "buy" rating to a "hold" rating in a report 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.