Sumitomo Mitsui Trust Holdings Inc. Acquires 33,811 Shares of CGI Inc. (NYSE:GIB)

Sumitomo Mitsui Trust Holdings Inc. boosted its position in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 5.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 626,075 shares of the technology company's stock after buying an additional 33,811 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.27% of CGI worth $67,291,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Exchange Traded Concepts LLC raised its stake in CGI by 471.7% during the third quarter. Exchange Traded Concepts LLC now owns 263 shares of the technology company's stock worth $26,000 after acquiring an additional 217 shares in the last quarter. Belpointe Asset Management LLC increased its holdings 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 worth $35,000 after buying an additional 351 shares in the last quarter. Group One Trading L.P. acquired a new stake in shares of CGI in the third quarter valued at approximately $36,000. Quantbot Technologies LP acquired a new stake in shares of CGI in the third quarter valued at approximately $41,000. Finally, Allworth Financial LP increased its holdings in shares of CGI by 130.9% in the third quarter. Allworth Financial LP now owns 651 shares of the technology company's stock valued at $64,000 after purchasing an additional 369 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of CGI from a "buy" rating to a "hold" rating in a research note on Monday, March 11th.

CGI Trading Up 0.1 %

Shares of NYSE GIB traded up $0.10 during midday trading on Friday, reaching $104.01. 132,316 shares of the stock were exchanged, compared to its average volume of 138,276. The business has a 50-day simple moving average of $112.21 and a two-hundred day simple moving average of $106.56. The company has a market capitalization of $24.16 billion, a price-to-earnings ratio of 20.27, a P/E/G ratio of 1.93 and a beta of 0.92. CGI Inc. has a 12 month low of $93.07 and a 12 month high of $118.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.11 and a quick ratio of 0.86.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last issued its quarterly earnings data on Wednesday, January 31st. The technology company reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.31 by $0.03. CGI had a net margin of 11.34% and a return on equity of 20.65%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.59 billion. As a group, equities research analysts expect that CGI Inc. will post 5.71 EPS for the current 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.