DORCHESTER WEALTH MANAGEMENT Co Sells 2,335 Shares of CGI Inc (GIB)

DORCHESTER WEALTH MANAGEMENT Co cut its holdings in shares of CGI Inc (NYSE:GIB) (TSE:GIB.A) by 1.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 126,418 shares of the technology company’s stock after selling 2,335 shares during the period. CGI makes up approximately 2.7% of DORCHESTER WEALTH MANAGEMENT Co’s holdings, making the stock its 11th biggest position. DORCHESTER WEALTH MANAGEMENT Co’s holdings in CGI were worth $8,691,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in GIB. Cigna Investments Inc. New lifted its position in shares of CGI by 6.7% in the 4th quarter. Cigna Investments Inc. New now owns 3,617 shares of the technology company’s stock valued at $222,000 after acquiring an additional 227 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of CGI by 6.4% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,300 shares of the technology company’s stock valued at $508,000 after acquiring an additional 500 shares in the last quarter. Wetherby Asset Management Inc. lifted its position in shares of CGI by 16.1% in the 4th quarter. Wetherby Asset Management Inc. now owns 4,350 shares of the technology company’s stock valued at $266,000 after acquiring an additional 602 shares in the last quarter. Advisor Group Inc. lifted its position in shares of CGI by 7.6% in the 4th quarter. Advisor Group Inc. now owns 8,633 shares of the technology company’s stock valued at $529,000 after acquiring an additional 611 shares in the last quarter. Finally, Csenge Advisory Group lifted its position in shares of CGI by 39.1% in the 4th quarter. Csenge Advisory Group now owns 3,386 shares of the technology company’s stock valued at $207,000 after acquiring an additional 952 shares in the last quarter. 58.44% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently commented on GIB. Zacks Investment Research upgraded shares of CGI from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. Raymond James restated a “buy” rating on shares of CGI in a research report on Tuesday, January 8th. Finally, BMO Capital Markets restated a “buy” rating on shares of CGI in a research report on Wednesday, January 16th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $79.00.

CGI stock opened at $70.68 on Wednesday. The company has a market capitalization of $19.39 billion, a price-to-earnings ratio of 22.02, a P/E/G ratio of 2.22 and a beta of 0.55. The company has a current ratio of 1.14, a quick ratio of 0.83 and a debt-to-equity ratio of 0.29. CGI Inc has a twelve month low of $57.16 and a twelve month high of $71.46.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings data on Wednesday, January 30th. The technology company reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.01. The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.95 billion. CGI had a net margin of 10.01% and a return on equity of 18.11%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 EPS. Equities research analysts forecast that CGI Inc will post 3.54 earnings per share for the current year.

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CGI Profile

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.

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Institutional Ownership by Quarter for CGI (NYSE:GIB)

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