Penobscot Investment Management Company Inc. Makes New $214,000 Investment in CGI Inc. (NYSE:GIB)

Penobscot Investment Management Company Inc. acquired a new stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,000 shares of the technology company’s stock, valued at approximately $214,000.

A number of other hedge funds have also modified their holdings of the business. Janiczek Wealth Management LLC raised its position 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. First Trust Direct Indexing L.P. lifted its stake in CGI by 3.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,059 shares of the technology company’s stock worth $400,000 after acquiring an additional 146 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in CGI by 6.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 2,477 shares of the technology company’s stock worth $244,000 after acquiring an additional 158 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in CGI by 1.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 17,369 shares of the technology company’s stock valued at $1,711,000 after acquiring an additional 175 shares during the period. Finally, Truist Financial Corp grew its position in CGI by 6.2% in the 4th quarter. Truist Financial Corp now owns 3,402 shares of the technology company’s stock valued at $365,000 after acquiring an additional 198 shares in the last quarter. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

CGI Stock Performance

Shares of GIB stock opened at $99.36 on Thursday. The firm has a 50 day moving average of $110.34 and a two-hundred day moving average of $106.89. The stock has a market capitalization of $23.08 billion, a PE ratio of 19.37, a P/E/G ratio of 2.22 and a beta of 0.93. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.22. CGI Inc. has a 52 week low of $93.07 and a 52 week high of $118.89.

CGI (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, January 31st. The technology company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. CGI had a return on equity of 20.65% and a net margin of 11.34%. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.59 billion. On average, research analysts predict that CGI Inc. will post 5.69 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of CGI from a “buy” rating to a “hold” rating in a research note 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.