Walter Public Investments Inc. Has $26.19 Million Stock Position in CGI Inc. (NYSE:GIB)

Walter Public Investments Inc. lifted its holdings in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 10.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 227,796 shares of the technology company's stock after acquiring an additional 21,582 shares during the period. CGI accounts for about 4.6% of Walter Public Investments Inc.'s portfolio, making the stock its 3rd biggest holding. Walter Public Investments Inc. owned approximately 0.10% of CGI worth $26,194,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Dixon Mitchell Investment Counsel Inc. bought a new position in CGI in the 1st quarter worth approximately $30,000. CWM LLC grew its stake in CGI by 19.1% during the first quarter. CWM LLC now owns 1,185 shares of the technology company's stock valued at $131,000 after acquiring an additional 190 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in CGI by 9.2% during the second quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company's stock valued at $205,000 after acquiring an additional 173 shares in the last quarter. Tidal Investments LLC purchased a new position in CGI during the first quarter valued at $226,000. Finally, CreativeOne Wealth LLC purchased a new position in CGI during the first quarter valued at $228,000. Hedge funds and other institutional investors own 66.68% of the company's stock.

Wall Street Analysts Forecast Growth

GIB has been the subject of several research analyst reports. Jefferies Financial Group raised their target price on shares of CGI from $120.00 to $121.00 and gave the company a "buy" rating in a research note on Tuesday, July 16th. Sanford C. Bernstein raised shares of CGI to a "strong-buy" rating in a research note on Thursday, August 1st. Cibc World Mkts raised shares of CGI from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. CIBC raised shares of CGI from a "neutral" rating to an "outperformer" rating and raised their target price for the company from $155.00 to $178.00 in a research note on Tuesday. Finally, UBS Group assumed coverage on shares of CGI in a research note on Friday, July 19th. They set a "neutral" rating and a $112.00 target price for the company. Two equities research 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 stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $137.00.

CGI Price Performance

GIB stock traded up $1.06 during trading on Thursday, hitting $115.77. 79,116 shares of the company's stock traded hands, compared to its average volume of 149,834. CGI Inc. has a 52 week low of $93.07 and a 52 week high of $118.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.16. The business has a fifty day simple moving average of $112.51 and a 200 day simple moving average of $106.78. The stock has a market capitalization of $26.72 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 2.45 and a beta of 0.95.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last released its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.40 EPS for the quarter, meeting the consensus estimate of $1.40. CGI had a net margin of 11.51% and a return on equity of 20.21%. The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. As a group, research analysts expect that CGI Inc. will post 5.55 EPS 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.