Wellington Management Group LLP Boosts Holdings in CGI Inc. (NYSE:GIB)

Wellington Management Group LLP increased its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 44.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,684 shares of the technology company’s stock after buying an additional 19,141 shares during the period. Wellington Management Group LLP’s holdings in CGI were worth $6,748,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in GIB. Janiczek Wealth Management LLC boosted its holdings in CGI by 4.5% in the fourth quarter. Janiczek Wealth Management LLC now owns 3,340 shares of the technology company’s stock valued at $358,000 after purchasing an additional 143 shares during the period. Truist Financial Corp increased its stake 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 buying an additional 198 shares during the period. Hexagon Capital Partners LLC raised its holdings in CGI by 297.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 270 shares of the technology company’s stock valued at $29,000 after acquiring an additional 202 shares in the last quarter. Ritholtz Wealth Management lifted its stake in CGI by 0.9% in the fourth quarter. Ritholtz Wealth Management now owns 24,773 shares of the technology company’s stock worth $2,656,000 after acquiring an additional 218 shares during the last quarter. Finally, Glenmede Trust Co. NA grew its holdings in CGI by 11.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 2,486 shares of the technology company’s stock worth $245,000 after acquiring an additional 256 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. CIBC downgraded shares of CGI from a “sector outperform” rating to a “neutral” rating in a research note on Friday, June 21st. StockNews.com downgraded CGI from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Finally, TD Securities raised CGI from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd.

CGI Price Performance

Shares of NYSE:GIB opened at $99.77 on Friday. CGI Inc. has a 12 month low of $93.07 and a 12 month high of $118.89. The firm has a market capitalization of $23.02 billion, a P/E ratio of 19.22, a P/E/G ratio of 2.32 and a beta of 0.95. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.17 and a quick ratio of 0.86. The company’s fifty day moving average price is $101.87 and its 200 day moving average price is $107.25.

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

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.