CGI Inc. (NYSE:GIB) Shares Sold by DORCHESTER WEALTH MANAGEMENT Co

DORCHESTER WEALTH MANAGEMENT Co reduced its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 3.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 90,057 shares of the technology company’s stock after selling 3,637 shares during the quarter. CGI comprises about 1.8% of DORCHESTER WEALTH MANAGEMENT Co’s holdings, making the stock its 20th largest position. DORCHESTER WEALTH MANAGEMENT Co’s holdings in CGI were worth $10,155,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GIB. First Affirmative Financial Network boosted its position in shares of CGI by 4.0% during the 2nd quarter. First Affirmative Financial Network now owns 2,841 shares of the technology company’s stock worth $284,000 after purchasing an additional 109 shares in the last quarter. Cigna Investments Inc. New boosted its position in shares of CGI by 3.8% in the 2nd quarter. Cigna Investments Inc. New now owns 3,948 shares of the technology company’s stock worth $394,000 after buying an additional 146 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of CGI by 0.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 30,933 shares of the technology company’s stock worth $3,418,000 after buying an additional 149 shares in the last quarter. JCIC Asset Management Inc. boosted its position in shares of CGI by 0.5% in the 1st quarter. JCIC Asset Management Inc. now owns 32,860 shares of the technology company’s stock worth $3,627,000 after buying an additional 160 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of CGI by 9.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock worth $205,000 after buying an additional 173 shares in the last quarter. 66.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GIB has been the topic of several recent research reports. Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. UBS Group assumed coverage on CGI in a report on Friday, July 19th. They issued a “neutral” rating and a $112.00 price target for the company. Jefferies Financial Group raised their price target on shares of CGI from $120.00 to $121.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and raised their price target for the stock from $155.00 to $178.00 in a research report on Tuesday, October 15th. Finally, Sanford C. Bernstein raised shares of CGI to a “strong-buy” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $137.00.

CGI Price Performance

CGI stock traded up $0.06 during midday trading on Thursday, hitting $114.03. The company’s stock had a trading volume of 10,545 shares, compared to its average volume of 148,388. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.22. The stock’s 50-day moving average price is $113.35 and its 200-day moving average price is $107.02. CGI Inc. has a 12 month low of $93.07 and a 12 month high of $118.89. The company has a market capitalization of $26.31 billion, a PE ratio of 21.96, 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 results 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 firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Analysts anticipate that CGI Inc. will post 5.55 earnings per share for the current fiscal year.

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.