Freestone Capital Holdings LLC Takes $7.46 Million Position in CGI Inc (GIB)

Freestone Capital Holdings LLC bought a new stake 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. The firm bought 108,503 shares of the technology company’s stock, valued at approximately $7,461,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. US Bancorp DE raised its position in CGI by 7.1% during the 1st quarter. US Bancorp DE now owns 4,155 shares of the technology company’s stock worth $285,000 after buying an additional 274 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in CGI during the 1st quarter worth approximately $70,859,000. Clark Capital Management Group Inc. raised its position in CGI by 6.0% during the 1st quarter. Clark Capital Management Group Inc. now owns 481,853 shares of the technology company’s stock worth $33,140,000 after buying an additional 27,397 shares during the last quarter. JPMorgan Chase & Co. raised its position in CGI by 4.8% during the 1st quarter. JPMorgan Chase & Co. now owns 527,809 shares of the technology company’s stock worth $36,292,000 after buying an additional 24,085 shares during the last quarter. Finally, Csenge Advisory Group raised its position in CGI by 9.7% during the 1st quarter. Csenge Advisory Group now owns 3,713 shares of the technology company’s stock worth $255,000 after buying an additional 327 shares during the last quarter. 56.79% of the stock is currently owned by institutional investors and hedge funds.

NYSE:GIB opened at $73.16 on Thursday. The company has a quick ratio of 0.82, a current ratio of 1.16 and a debt-to-equity ratio of 0.28. The company has a market cap of $20.09 billion, a PE ratio of 22.79, a PEG ratio of 2.30 and a beta of 0.57. CGI Inc has a 1-year low of $57.35 and a 1-year high of $73.61.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its earnings results on Wednesday, May 1st. The technology company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.28. The firm had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.06 billion. CGI had a net margin of 10.29% and a return on equity of 18.34%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.04 EPS. Analysts expect that CGI Inc will post 3.55 earnings per share for the current fiscal year.

GIB has been the subject of a number of recent research reports. Zacks Investment Research lowered shares of CGI from a “hold” rating to a “sell” rating in a research report on Monday, January 28th. CIBC lowered shares of CGI from a “sector outperform” rating to a “neutral” rating in a research report on Thursday, April 25th. Finally, Bank of America initiated coverage on shares of CGI in a research report on Thursday. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $79.00.

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CGI Company Profile

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.

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Institutional Ownership by Quarter for CGI (NYSE:GIB)

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