Triasima Portfolio Management inc. Has $5.39 Million Stake in CGI Inc. (NYSE:GIB)

Triasima Portfolio Management inc. reduced its stake in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 76.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,220 shares of the technology company's stock after selling 162,050 shares during the period. Triasima Portfolio Management inc.'s holdings in CGI were worth $5,390,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GIB. Exchange Traded Concepts LLC grew its stake in shares of CGI by 471.7% during the third quarter. Exchange Traded Concepts LLC now owns 263 shares of the technology company's stock valued at $26,000 after acquiring an additional 217 shares in the last quarter. Group One Trading L.P. acquired a new stake in shares of CGI during the third quarter valued at about $36,000. Belpointe Asset Management LLC grew its stake in shares of CGI by 2,507.1% during the first quarter. Belpointe Asset Management LLC now owns 365 shares of the technology company's stock valued at $35,000 after acquiring an additional 351 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of CGI during the third quarter valued at about $41,000. Finally, Allworth Financial LP grew its stake in shares of CGI by 130.9% during the third quarter. Allworth Financial LP now owns 651 shares of the technology company's stock valued at $64,000 after acquiring an additional 369 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

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.

CGI Stock Down 1.1 %

Shares of CGI stock traded down $1.13 during trading hours on Friday, hitting $104.41. 178,611 shares of the company's stock traded hands, compared to its average volume of 144,851. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.22. CGI Inc. has a twelve month low of $93.07 and a twelve month high of $118.89. The stock has a 50 day simple moving average of $112.90 and a 200-day simple moving average of $106.47. The company has a market cap of $24.26 billion, a PE ratio of 20.35, a PEG ratio of 1.95 and a beta of 0.92.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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. Equities research analysts anticipate that CGI Inc. will post 5.71 earnings per share for the current fiscal year.

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.