CGI Inc. (NYSE:GIB) Shares Bought by National Bank of Canada FI

National Bank of Canada FI boosted its stake in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 3.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,711,372 shares of the technology company's stock after acquiring an additional 129,020 shares during the quarter. CGI comprises 0.6% of National Bank of Canada FI's investment portfolio, making the stock its 25th biggest holding. National Bank of Canada FI owned 1.60% of CGI worth $385,239,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of GIB. Vanguard Group Inc. boosted its holdings in shares of CGI by 1.8% in the third quarter. Vanguard Group Inc. now owns 7,578,327 shares of the technology company's stock valued at $746,389,000 after acquiring an additional 132,166 shares in the last quarter. Bank of Nova Scotia increased its position in CGI by 100.0% during the 3rd quarter. Bank of Nova Scotia now owns 1,404,616 shares of the technology company's stock worth $138,450,000 after purchasing an additional 702,339 shares during the period. Prime Capital Investment Advisors LLC purchased a new position in shares of CGI during the 4th quarter worth approximately $1,409,000. MQS Management LLC lifted its holdings in shares of CGI by 26.3% in the 3rd quarter. MQS Management LLC now owns 3,859 shares of the technology company's stock valued at $380,000 after buying an additional 804 shares during the period. Finally, Pinnacle Associates Ltd. lifted its holdings in shares of CGI by 100.0% in the 4th quarter. Pinnacle Associates Ltd. now owns 8,000 shares of the technology company's stock valued at $858,000 after buying an additional 4,000 shares during the period. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

CGI Price Performance

GIB stock traded up $1.57 during midday trading on Friday, hitting $103.68. 181,289 shares of the stock were exchanged, compared to its average volume of 189,499. The stock's 50-day moving average price is $109.85 and its 200-day moving average price is $106.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.17. The stock has a market cap of $24.09 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 2.32 and a beta of 0.93. CGI Inc. has a fifty-two week low of $93.07 and a fifty-two week high of $118.89.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last released its quarterly earnings results on Wednesday, January 31st. The technology company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.03. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.59 billion. CGI had a return on equity of 20.43% and a net margin of 11.38%. Research analysts predict that CGI Inc. will post 5.68 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on GIB shares. CIBC cut their price objective on CGI from $169.00 to $165.00 and set an "outperformer" rating for the company in a research report on Thursday. StockNews.com downgraded shares of 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.

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.