Legacy Wealth Asset Management LLC Reduces Stake in CGI Inc. (NYSE:GIB)

Legacy Wealth Asset Management LLC trimmed its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 2.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,225 shares of the technology company’s stock after selling 129 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in CGI were worth $577,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Hexagon Capital Partners LLC raised its position in shares of CGI by 297.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 270 shares of the technology company’s stock worth $29,000 after buying an additional 202 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of CGI in the first quarter worth approximately $30,000. CWM LLC raised its stake in CGI by 19.1% in the first quarter. CWM LLC now owns 1,185 shares of the technology company’s stock valued at $131,000 after purchasing an additional 190 shares in the last quarter. Tritonpoint Wealth LLC bought a new position in shares of CGI in the 4th quarter worth $205,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of CGI by 41.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,978 shares of the technology company’s stock valued at $212,000 after buying an additional 579 shares in the last quarter. Institutional investors own 66.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GIB. Jefferies Financial Group started coverage on CGI in a report on Tuesday. They set a “buy” rating and a $120.00 price objective on the stock. StockNews.com cut CGI from a “buy” rating to a “hold” rating in a report on Monday, March 11th. CIBC cut shares of CGI from a “sector outperform” rating to a “neutral” rating in a report on Friday, June 21st. Finally, TD Securities upgraded shares of CGI from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd.

CGI Stock Performance

Shares of GIB opened at $102.19 on Friday. CGI Inc. has a 12 month low of $93.07 and a 12 month high of $118.89. The business’s fifty day simple moving average is $101.59 and its two-hundred day simple moving average is $107.11. 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 cap of $23.58 billion, a price-to-earnings ratio of 19.69, a P/E/G ratio of 2.37 and a beta of 0.95.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly 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. CGI had a net margin of 11.38% and a return on equity of 20.43%. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.79 billion. Research analysts anticipate that CGI Inc. will post 5.58 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.