Dixon Mitchell Investment Counsel Inc. Buys New Holdings in CGI Inc. (NYSE:GIB)

Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 276 shares of the technology company’s stock, valued at approximately $30,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of GIB. Hexagon Capital Partners LLC lifted its holdings in CGI by 297.1% during the 4th quarter. Hexagon Capital Partners LLC now owns 270 shares of the technology company’s stock valued at $29,000 after purchasing an additional 202 shares during the last quarter. CWM LLC raised its holdings in CGI by 19.1% in the 1st quarter. CWM LLC now owns 1,185 shares of the technology company’s stock valued at $131,000 after acquiring an additional 190 shares during the period. Tritonpoint Wealth LLC bought a new stake in shares of CGI during the fourth quarter worth approximately $205,000. EverSource Wealth Advisors LLC grew its position in shares of 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 during the last quarter. Finally, Western Wealth Management LLC bought a new position in shares of CGI during the fourth quarter worth approximately $214,000. Institutional investors own 66.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GIB. Jefferies Financial Group initiated coverage on CGI in a report on Tuesday. They set a “buy” rating and a $120.00 price target for the company. TD Securities upgraded shares of CGI from a “hold” rating to a “buy” rating in a research note on Thursday, May 2nd. StockNews.com cut shares of CGI from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Finally, CIBC lowered shares of CGI from a “sector outperform” rating to a “neutral” rating in a research report on Friday, June 21st.

CGI Trading Up 2.4 %

GIB opened at $101.38 on Wednesday. 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 twelve month low of $93.07 and a twelve month high of $118.89. The stock has a market capitalization of $23.40 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 2.31 and a beta of 0.95. The company has a 50-day simple moving average of $101.74 and a 200 day simple moving average of $107.22.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.02. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.79 billion. CGI had a net margin of 11.38% and a return on equity of 20.43%. Analysts predict that CGI Inc. will post 5.57 EPS for the current fiscal year.

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.