Penobscot Investment Management Company Inc. Acquires New Shares in CGI Inc. (NYSE:GIB)

Penobscot Investment Management Company Inc. purchased a new stake in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,000 shares of the technology company’s stock, valued at approximately $214,000.

Other hedge funds have also bought and sold shares of the company. Van ECK Associates Corp boosted its stake in shares of CGI by 5.6% in the 4th quarter. Van ECK Associates Corp now owns 28,983 shares of the technology company’s stock worth $3,107,000 after buying an additional 1,526 shares during the last quarter. Mather Group LLC. purchased a new position in CGI in the fourth quarter worth about $223,000. Russell Investments Group Ltd. grew its stake in shares of CGI by 6.3% during the 4th quarter. Russell Investments Group Ltd. now owns 191,179 shares of the technology company’s stock valued at $20,564,000 after purchasing an additional 11,317 shares during the period. Truist Financial Corp grew its stake in shares of CGI by 6.2% during the 4th quarter. Truist Financial Corp now owns 3,402 shares of the technology company’s stock valued at $365,000 after purchasing an additional 198 shares during the period. Finally, Western Wealth Management LLC purchased a new stake in shares of CGI during the 4th quarter valued at about $214,000. Hedge funds and other institutional investors own 66.68% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of CGI from a “buy” rating to a “hold” rating in a research report on Monday, March 11th.

CGI Stock Performance

NYSE GIB opened at $99.36 on Thursday. The company has a quick ratio of 0.86, a current ratio of 1.11 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 business has a 50-day moving average price of $110.34 and a 200-day moving average price of $106.89. The firm has a market cap of $23.08 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 2.22 and a beta of 0.93.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its earnings results on Wednesday, January 31st. The technology company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. CGI had a return on equity of 20.65% and a net margin of 11.34%. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.59 billion. As a group, equities research analysts predict that CGI Inc. will post 5.69 EPS for the current fiscal year.

About CGI

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.