Russell Investments Group Ltd. increased its position in CGI Inc. (NYSE:GIB – Free Report) (TSE:GIB.A) by 4.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,522 shares of the technology company’s stock after acquiring an additional 8,425 shares during the quarter. Russell Investments Group Ltd. owned about 0.08% of CGI worth $21,060,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in CGI by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 7,152,074 shares of the technology company’s stock valued at $538,122,000 after buying an additional 50,028 shares in the last quarter. Mackenzie Financial Corp grew its holdings in CGI by 9.4% during the 2nd quarter. Mackenzie Financial Corp now owns 5,384,088 shares of the technology company’s stock valued at $567,709,000 after buying an additional 463,776 shares in the last quarter. Fiera Capital Corp grew its holdings in CGI by 0.6% during the 2nd quarter. Fiera Capital Corp now owns 3,687,429 shares of the technology company’s stock valued at $389,397,000 after buying an additional 22,084 shares in the last quarter. Bank of Montreal Can purchased a new stake in CGI during the 2nd quarter valued at approximately $376,083,000. Finally, Norges Bank purchased a new stake in CGI during the 4th quarter valued at approximately $203,388,000. 49.02% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Separately, StockNews.com initiated coverage on CGI in a research report on Thursday, October 5th. They set a “hold” rating for the company.
CGI Stock Up 0.6 %
NYSE GIB opened at $101.76 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.82 and a current ratio of 1.06. The company has a market capitalization of $23.95 billion, a P/E ratio of 19.99, a P/E/G ratio of 1.87 and a beta of 0.91. CGI Inc. has a one year low of $83.35 and a one year high of $107.66. The stock has a 50 day moving average price of $99.61 and a 200-day moving average price of $101.75.
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.
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