DORCHESTER WEALTH MANAGEMENT Co Lowers Stake in CGI Inc. (NYSE:GIB)

DORCHESTER WEALTH MANAGEMENT Co trimmed its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,764 shares of the technology company’s stock after selling 425 shares during the period. CGI accounts for 1.8% of DORCHESTER WEALTH MANAGEMENT Co’s portfolio, making the stock its 18th largest holding. DORCHESTER WEALTH MANAGEMENT Co’s holdings in CGI were worth $10,165,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of GIB. Exchange Traded Concepts LLC lifted its holdings in shares of CGI by 471.7% in the third quarter. Exchange Traded Concepts LLC now owns 263 shares of the technology company’s stock worth $26,000 after buying an additional 217 shares in the last quarter. Belpointe Asset Management LLC boosted its stake in CGI by 2,507.1% during the first quarter. Belpointe Asset Management LLC now owns 365 shares of the technology company’s stock valued at $35,000 after buying an additional 351 shares during the last quarter. Group One Trading L.P. purchased a new position in CGI during the 3rd quarter valued at approximately $36,000. Quantbot Technologies LP bought a new stake in CGI in the 3rd quarter worth approximately $41,000. Finally, Pinebridge Investments L.P. purchased a new stake in shares of CGI during the 2nd quarter worth approximately $52,000. 66.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of CGI from a “buy” rating to a “hold” rating in a research report on Monday, March 11th.

CGI Price Performance

Shares of CGI stock traded up $0.43 during trading hours on Thursday, reaching $108.74. The company’s stock had a trading volume of 14,408 shares, compared to its average volume of 133,239. The firm has a 50 day moving average price of $113.71 and a 200-day moving average price of $106.24. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.11 and a quick ratio of 0.86. The stock has a market cap of $25.26 billion, a P/E ratio of 21.10, a P/E/G ratio of 2.02 and a beta of 0.92. CGI Inc. has a one year low of $93.07 and a one year high of $118.89.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, January 31st. The technology company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.03. The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.59 billion. CGI had a return on equity of 20.65% and a net margin of 11.34%. On average, analysts predict that CGI Inc. will post 5.71 EPS for the current 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.