Walter Public Investments Inc. Grows Stock Position in CGI Inc. (NYSE:GIB)

Walter Public Investments Inc. boosted its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 10.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 227,796 shares of the technology company’s stock after acquiring an additional 21,582 shares during the quarter. CGI accounts for approximately 4.6% of Walter Public Investments Inc.’s portfolio, making the stock its 3rd largest holding. Walter Public Investments Inc. owned about 0.10% of CGI worth $26,194,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in CGI during the first quarter valued at about $30,000. CWM LLC boosted its position in CGI by 19.1% during the first quarter. CWM LLC now owns 1,185 shares of the technology company’s stock valued at $131,000 after buying an additional 190 shares during the period. EverSource Wealth Advisors LLC boosted its position in CGI by 9.2% during the second quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock valued at $205,000 after buying an additional 173 shares during the period. Tidal Investments LLC purchased a new stake in CGI during the first quarter valued at about $226,000. Finally, CreativeOne Wealth LLC purchased a new stake in CGI during the first quarter valued at about $228,000. Institutional investors own 66.68% of the company’s stock.

CGI Stock Performance

Shares of GIB opened at $114.67 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 0.86. CGI Inc. has a one year low of $93.07 and a one year high of $118.89. The company has a 50-day simple moving average of $112.51 and a two-hundred day simple moving average of $106.78. The firm has a market capitalization of $26.46 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 2.45 and a beta of 0.95.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.40 EPS for the quarter, hitting the consensus estimate of $1.40. CGI had a net margin of 11.51% and a return on equity of 20.21%. The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. On average, analysts anticipate that CGI Inc. will post 5.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. UBS Group assumed coverage on shares of CGI in a research report on Friday, July 19th. They set a “neutral” rating and a $112.00 price target for the company. Sanford C. Bernstein upgraded shares of CGI to a “strong-buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group increased their target price on shares of CGI from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and increased their target price for the stock from $155.00 to $178.00 in a report on Tuesday. Finally, Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $137.00.

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.