Galibier Capital Management Ltd. Sells 8,479 Shares of CGI Inc. (NYSE:GIB)

Galibier Capital Management Ltd. lessened its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 3.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 222,836 shares of the technology company’s stock after selling 8,479 shares during the quarter. CGI accounts for approximately 5.9% of Galibier Capital Management Ltd.’s investment portfolio, making the stock its 10th biggest position. Galibier Capital Management Ltd. owned about 0.10% of CGI worth $24,608,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of GIB. Hexagon Capital Partners LLC increased 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 worth $29,000 after purchasing an additional 202 shares during the period. CWM LLC grew its holdings in shares of CGI by 19.1% during the 1st quarter. CWM LLC now owns 1,185 shares of the technology company’s stock worth $131,000 after purchasing an additional 190 shares in the last quarter. Tritonpoint Wealth LLC bought a new position in shares of CGI in the fourth quarter worth $205,000. EverSource Wealth Advisors LLC raised its stake in CGI by 41.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,978 shares of the technology company’s stock valued at $212,000 after purchasing an additional 579 shares in the last quarter. Finally, Western Wealth Management LLC bought a new stake in CGI during the fourth quarter worth about $214,000. 66.68% of the stock is owned by institutional investors.

CGI Price Performance

Shares of NYSE GIB traded down $0.55 during midday trading on Friday, reaching $99.81. 286,947 shares of the company were exchanged, compared to its average volume of 148,256. The stock’s 50-day moving average price is $101.87 and its 200-day moving average price is $107.25. The stock has a market cap of $23.03 billion, a P/E ratio of 19.23, a PEG ratio of 2.33 and a beta of 0.95. The company has a quick ratio of 0.86, a current ratio of 1.17 and a debt-to-equity ratio of 0.22. 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 earnings results on Wednesday, May 1st. The technology company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.02. CGI had a return on equity of 20.43% and a net margin of 11.38%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.79 billion. On average, sell-side analysts anticipate that CGI Inc. will post 5.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GIB has been the subject of several analyst reports. StockNews.com cut shares of CGI from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. TD Securities raised CGI from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd. Finally, CIBC lowered CGI from a “sector outperform” rating to a “neutral” rating in a research note on Friday, June 21st.

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.