Barometer Capital Management Inc. Makes New Investment in CGI Inc. (NYSE:GIB)

Barometer Capital Management Inc. bought a new position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 6,800 shares of the technology company’s stock, valued at approximately $729,000.

A number of other institutional investors have also made changes to their positions in the company. Janiczek Wealth Management LLC raised its holdings in shares of CGI by 4.5% during the fourth quarter. Janiczek Wealth Management LLC now owns 3,340 shares of the technology company’s stock worth $358,000 after purchasing an additional 143 shares during the period. Truist Financial Corp increased its position in CGI by 6.2% in 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 boosted its holdings in shares of CGI by 297.1% during 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 during the period. Aviva PLC boosted its holdings in shares of CGI by 2.5% during the third quarter. Aviva PLC now owns 8,323 shares of the technology company’s stock valued at $823,000 after acquiring an additional 204 shares during the period. Finally, Ritholtz Wealth Management grew its position in shares of CGI by 0.9% during 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. 66.68% of the stock is currently owned by institutional investors.

CGI Price Performance

Shares of GIB stock traded down $0.90 during midday trading on Tuesday, reaching $100.70. 95,979 shares of the company were exchanged, compared to its average volume of 156,172. The company’s 50 day moving average price is $103.46 and its two-hundred day moving average price is $107.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.17. The company has a market cap of $23.24 billion, a P/E ratio of 19.31, a PEG ratio of 2.35 and a beta of 0.95. 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 released its earnings results on Wednesday, May 1st. The technology company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.02. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.79 billion. CGI had a return on equity of 20.43% and a net margin of 11.38%. On average, sell-side analysts expect that CGI Inc. will post 5.57 earnings per share for the current year.

Analyst Ratings Changes

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

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.