Swiss National Bank Trims Stock Holdings in CGI Inc. (NYSE:GIB)

Swiss National Bank lowered its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 4.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 679,300 shares of the technology company’s stock after selling 29,900 shares during the quarter. Swiss National Bank’s holdings in CGI were worth $72,907,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GIB. First Trust Direct Indexing L.P. lifted its position in shares of CGI by 9.6% during the fourth quarter. First Trust Direct Indexing L.P. now owns 4,449 shares of the technology company’s stock worth $477,000 after purchasing an additional 390 shares during the last quarter. Hexagon Capital Partners LLC boosted its position in CGI by 297.1% in the 4th quarter. Hexagon Capital Partners LLC now owns 270 shares of the technology company’s stock valued at $29,000 after buying an additional 202 shares during the period. Mission Wealth Management LP boosted its position in CGI by 10.3% in the 4th quarter. Mission Wealth Management LP now owns 4,187 shares of the technology company’s stock valued at $449,000 after buying an additional 391 shares during the period. Penobscot Investment Management Company Inc. bought a new position in CGI in the 4th quarter worth about $214,000. Finally, Van ECK Associates Corp increased its position in shares of CGI by 5.6% during the fourth quarter. Van ECK Associates Corp now owns 28,983 shares of the technology company’s stock worth $3,107,000 after acquiring an additional 1,526 shares during the period. Institutional investors own 66.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GIB shares. StockNews.com lowered CGI from a “buy” rating to a “hold” rating in a report on Monday, March 11th. TD Securities upgraded CGI from a “hold” rating to a “buy” rating in a report on Thursday. Finally, CIBC cut their price target on CGI from $169.00 to $165.00 and set an “outperformer” rating on the stock in a research note on Thursday.

CGI Price Performance

NYSE GIB opened at $103.68 on Monday. The company has a market cap of $24.09 billion, a PE ratio of 19.98, a P/E/G ratio of 2.39 and a beta of 0.93. 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 1.17. The firm’s 50 day moving average price is $109.85 and its 200-day moving average price is $107.01.

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.