Russell Investments Group Ltd. Raises Holdings in CGI Inc. (NYSE:GIB)

Russell Investments Group Ltd. increased its stake in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 6.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 191,179 shares of the technology company's stock after purchasing an additional 11,317 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.08% of CGI worth $20,564,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Janiczek Wealth Management LLC boosted its position in CGI by 4.5% during the fourth quarter. Janiczek Wealth Management LLC now owns 3,340 shares of the technology company's stock worth $358,000 after purchasing an additional 143 shares during the period. First Trust Direct Indexing L.P. grew its stake in CGI by 3.7% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,059 shares of the technology company's stock valued at $400,000 after buying an additional 146 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in CGI by 6.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 2,477 shares of the technology company's stock valued at $244,000 after buying an additional 158 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in CGI by 1.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 17,369 shares of the technology company's stock valued at $1,711,000 after acquiring an additional 175 shares during the period. Finally, Truist Financial Corp lifted its position in shares of CGI by 6.2% during the fourth quarter. Truist Financial Corp now owns 3,402 shares of the technology company's stock worth $365,000 after acquiring an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 66.68% of the company's stock.

CGI Price Performance

Shares of GIB traded up $1.58 during mid-day trading on Friday, reaching $103.69. 181,289 shares of the stock traded hands, compared to its average volume of 148,403. The company has a market cap of $24.09 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 2.18 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 firm has a fifty day moving average price of $110.10 and a 200 day moving average price of $106.86. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last posted its earnings results on Wednesday, January 31st. The technology company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.31 by $0.03. CGI had a return on equity of 20.73% and a net margin of 11.38%. The business had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.59 billion. As a group, equities research analysts predict that CGI Inc. will post 5.69 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GIB. CIBC reduced their price target on CGI from $169.00 to $165.00 and set an "outperformer" rating for the company in a research report on Thursday. StockNews.com lowered CGI from a "buy" rating to a "hold" rating in a report on Monday, March 11th. Finally, TD Securities raised shares of CGI from a "hold" rating to a "buy" rating in a report on Thursday.

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.