CGI Inc. (NYSE:GIB) Stock Position Trimmed by Lincluden Management Ltd.

Lincluden Management Ltd. lowered its stake in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 54.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 27,448 shares of the technology company's stock after selling 33,054 shares during the period. Lincluden Management Ltd.'s holdings in CGI were worth $2,940,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GIB. FMR LLC boosted its position in CGI by 2,854.5% in the 3rd quarter. FMR LLC now owns 1,622,077 shares of the technology company's stock valued at $159,884,000 after buying an additional 1,567,176 shares during the period. Bank of Nova Scotia boosted its position in CGI by 100.0% in the 3rd quarter. Bank of Nova Scotia now owns 1,404,616 shares of the technology company's stock valued at $138,450,000 after buying an additional 702,339 shares during the period. The Manufacturers Life Insurance Company boosted its position in CGI by 12.9% in 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 buying an additional 401,717 shares during the period. Vanguard Group Inc. boosted its position in CGI by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 7,578,327 shares of the technology company's stock valued at $746,389,000 after buying an additional 132,166 shares during the period. Finally, National Bank of Canada FI boosted its position in CGI by 3.6% in the 4th quarter. National Bank of Canada FI now owns 3,711,372 shares of the technology company's stock valued at $385,239,000 after buying an additional 129,020 shares during the period. Hedge funds and other institutional investors own 66.68% of the company's stock.

CGI Stock Up 0.4 %

NYSE:GIB traded up $0.40 during midday trading on Friday, hitting $102.34. 180,927 shares of the company were exchanged, compared to its average volume of 209,042. The company has a fifty day simple moving average of $108.60 and a 200 day simple moving average of $107.04. CGI Inc. has a fifty-two week low of $93.07 and a fifty-two week high of $118.89. The company has a current ratio of 1.17, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $23.78 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 2.37 and a beta of 0.93.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GIB. CIBC decreased their price objective on shares of CGI from $169.00 to $165.00 and set an "outperformer" rating for the company in a research report on Thursday, May 2nd. StockNews.com cut shares of CGI from a "buy" rating to a "hold" rating in a research report on Monday, March 11th. Finally, TD Securities raised shares of CGI from a "hold" rating to a "buy" rating in a research report on Thursday, May 2nd.

CGI Company 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.