PNC Financial Services Group Inc. Sells 383 Shares of CGI Inc. (NYSE:GIB)

PNC Financial Services Group Inc. lessened its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 10.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,408 shares of the technology company’s stock after selling 383 shares during the period. PNC Financial Services Group Inc.’s holdings in CGI were worth $365,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GIB. Janiczek Wealth Management LLC grew its stake in shares of CGI by 4.5% during the 4th quarter. Janiczek Wealth Management LLC now owns 3,340 shares of the technology company’s stock valued at $358,000 after acquiring an additional 143 shares during the period. Truist Financial Corp raised its position in shares of CGI by 6.2% during the 4th quarter. Truist Financial Corp now owns 3,402 shares of the technology company’s stock valued at $365,000 after purchasing an additional 198 shares during the period. Hexagon Capital Partners LLC lifted its stake in shares of CGI by 297.1% during the 4th quarter. Hexagon Capital Partners LLC now owns 270 shares of the technology company’s stock valued at $29,000 after buying an additional 202 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in CGI by 0.9% in the 4th quarter. Ritholtz Wealth Management now owns 24,773 shares of the technology company’s stock worth $2,656,000 after buying an additional 218 shares during the period. Finally, Glenmede Trust Co. NA increased its stake in CGI by 11.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 2,486 shares of the technology company’s stock worth $245,000 after buying an additional 256 shares in the last quarter. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Price Performance

NYSE:GIB opened at $99.81 on Friday. The company has a market capitalization of $23.03 billion, a P/E ratio of 19.23, a P/E/G ratio of 2.33 and a beta of 0.95. The business’s 50-day moving average is $101.87 and its 200 day moving average is $107.27. The company has a current ratio of 1.17, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22. CGI Inc. has a 12 month low of $93.07 and a 12 month high of $118.89.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its earnings results on Wednesday, May 1st. The technology company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.02. The firm 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%. On average, equities research analysts forecast that CGI Inc. will post 5.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GIB shares. CIBC lowered CGI from a “sector outperform” rating to a “neutral” rating in a research note on Friday, June 21st. StockNews.com lowered 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, May 2nd.

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.