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

DORCHESTER WEALTH MANAGEMENT Co reduced its stake in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 3.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 90,057 shares of the technology company’s stock after selling 3,637 shares during the quarter. CGI accounts for approximately 1.8% of DORCHESTER WEALTH MANAGEMENT Co’s investment portfolio, making the stock its 20th biggest holding. DORCHESTER WEALTH MANAGEMENT Co’s holdings in CGI were worth $10,155,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GIB. Dixon Mitchell Investment Counsel Inc. acquired a new position in CGI during the first quarter valued at $30,000. Blue Trust Inc. lifted its position in CGI by 288.2% during the third quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock valued at $91,000 after purchasing an additional 585 shares during the period. CWM LLC lifted its position in CGI by 14.8% during the third quarter. CWM LLC now owns 1,365 shares of the technology company’s stock valued at $157,000 after purchasing an additional 176 shares during the period. Werba Rubin Papier Wealth Management acquired a new position in CGI during the third quarter valued at $208,000. Finally, Tidal Investments LLC acquired a new position in CGI during the first quarter valued at $226,000. 66.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Stock Performance

NYSE:GIB traded up $0.06 during trading hours on Thursday, reaching $114.03. 10,545 shares of the company’s stock were exchanged, compared to its average volume of 148,388. The firm has a market capitalization of $26.31 billion, a price-to-earnings ratio of 21.96, a P/E/G ratio of 2.45 and a beta of 0.95. The company has a 50-day moving average of $113.35 and a 200 day moving average of $107.02. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.22. CGI Inc. has a 1-year low of $93.07 and a 1-year high of $118.89.

CGI (NYSE:GIB) (TSE:GIB.A) last released its 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 company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Research analysts anticipate that CGI Inc. will post 5.55 EPS for the current year.

Analyst Ratings Changes

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