HighPoint Advisor Group LLC Acquires New Holdings in CGI Inc. (NYSE:GIB)

HighPoint Advisor Group LLC bought a new position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,634 shares of the technology company’s stock, valued at approximately $398,000.

A number of other hedge funds have also added to or reduced their stakes in GIB. Vanguard Group Inc. grew 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 worth $746,389,000 after acquiring an additional 132,166 shares during the period. Bank of Nova Scotia increased its position in shares of CGI by 100.0% during 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 purchasing an additional 702,339 shares during the last quarter. Assetmark Inc. lifted its stake in shares of CGI by 6,175.4% in the 4th quarter. Assetmark Inc. now owns 3,577 shares of the technology company’s stock worth $383,000 after purchasing an additional 3,520 shares during the period. Prime Capital Investment Advisors LLC purchased a new position in shares of CGI in the fourth quarter worth approximately $1,409,000. Finally, MQS Management LLC increased its holdings in CGI by 26.3% during the third 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 last quarter. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. StockNews.com lowered CGI from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. CIBC cut their price objective on CGI from $169.00 to $165.00 and set an “outperformer” rating for the company in a research note on Thursday, May 2nd. Finally, TD Securities upgraded shares of CGI from a “hold” rating to a “buy” rating in a research note on Thursday, May 2nd.

CGI Stock Performance

NYSE GIB opened at $99.78 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.17 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 business has a 50-day moving average price of $102.33 and a 200-day moving average price of $107.40. The firm has a market cap of $23.03 billion, a price-to-earnings ratio of 19.23, a price-to-earnings-growth ratio of 2.29 and a beta of 0.95.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.02. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.79 billion. CGI had a net margin of 11.38% and a return on equity of 20.43%. As a group, equities research analysts predict that CGI Inc. will post 5.57 EPS for the current fiscal year.

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.