Signaturefd LLC Increases Stake in CGI Inc. (NYSE:GIB)

Posted by on Apr 14th, 2023

Signaturefd LLC lifted its stake in CGI Inc. (NYSE:GIB – Get Rating) (TSE:GIB.A) by 20.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,279 shares of the technology company’s stock after purchasing an additional 1,227 shares during the quarter. Signaturefd LLC’s holdings in CGI were worth $627,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ronald Blue Trust Inc. purchased a new position in CGI during the 4th quarter worth approximately $25,000. Guardian Wealth Advisors LLC purchased a new position in CGI during the 3rd quarter worth approximately $27,000. Exchange Traded Concepts LLC raised its position in CGI by 650.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 495 shares of the technology company’s stock worth $37,000 after buying an additional 429 shares during the last quarter. Wealthsimple Inc. purchased a new position in CGI during the 3rd quarter worth approximately $210,000. Finally, Wipfli Financial Advisors LLC purchased a new position in CGI during the 3rd quarter worth approximately $124,000. 48.54% of the stock is owned by hedge funds and other institutional investors.

CGI Price Performance

CGI stock opened at $100.44 on Friday. The company’s fifty day moving average price is $92.93 and its 200 day moving average price is $86.51. CGI Inc. has a 1 year low of $72.23 and a 1 year high of $100.57. The stock has a market capitalization of $23.95 billion, a P/E ratio of 21.23, a P/E/G ratio of 1.91 and a beta of 0.93. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.84 and a current ratio of 1.08.

CGI (NYSE:GIB – Get Rating) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, February 1st. The technology company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.03. CGI had a net margin of 11.20% and a return on equity of 20.87%. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.46 billion. As a group, equities research analysts anticipate that CGI Inc. will post 5.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Scotiabank raised their price target on shares of CGI from C$135.00 to C$140.00 in a research report on Thursday, February 2nd. BMO Capital Markets lifted their target price on shares of CGI from C$125.00 to C$133.00 in a report on Thursday, February 2nd. CIBC lifted their target price on shares of CGI from C$140.00 to C$146.00 in a report on Thursday, February 2nd. Royal Bank of Canada lifted their target price on shares of CGI from C$130.00 to C$145.00 in a report on Thursday, February 2nd. Finally, Raymond James lifted their target price on shares of CGI from C$134.00 to C$138.00 in a report on Thursday, February 2nd.

CGI Profile

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CGI, Inc engages in the provision of information technology and consulting services. It operates through the following segments: Western and Southern Europe, U.S. Commercial and State Government, Canada, U.S. Federal, Scandinavia and Central Europe, UK and Australia; Finland, Poland, and Baltics, Northwest and Central-East Europe, and Asia Pacific.

Further Reading

Institutional Ownership by Quarter for CGI (NYSE:GIB)

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