Sumitomo Mitsui Trust Holdings Inc. Has $67.29 Million Position in CGI Inc. (NYSE:GIB)

Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 5.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 626,075 shares of the technology company’s stock after purchasing an additional 33,811 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.27% of CGI worth $67,291,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in CGI during the fourth quarter worth $203,388,000. Arrowstreet Capital Limited Partnership acquired a new position in CGI during the first quarter worth $212,464,000. FMR LLC increased its position in CGI by 2,854.5% during the third quarter. FMR LLC now owns 1,622,077 shares of the technology company’s stock worth $159,884,000 after buying an additional 1,567,176 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in CGI by 15.0% during the third quarter. Mackenzie Financial Corp now owns 6,190,061 shares of the technology company’s stock valued at $598,239,000 after acquiring an additional 805,973 shares during the period. Finally, Bank of Nova Scotia boosted its holdings in CGI by 100.0% during the third quarter. Bank of Nova Scotia now owns 1,404,616 shares of the technology company’s stock valued at $138,450,000 after acquiring an additional 702,339 shares during the period. 66.68% of the stock is owned by institutional investors and hedge funds.

CGI Stock Down 0.6 %

GIB stock opened at $103.90 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.11 and a quick ratio of 0.86. CGI Inc. has a 52-week low of $93.07 and a 52-week high of $118.89. The company has a 50-day moving average of $112.21 and a two-hundred day moving average of $106.56. The stock has a market capitalization of $24.14 billion, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 1.91 and a beta of 0.92.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, January 31st. The technology company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. CGI had a net margin of 11.34% and a return on equity of 20.65%. The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.59 billion. As a group, equities research analysts anticipate that CGI Inc. will post 5.71 EPS for the current year.

Wall Street Analyst Weigh In

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

CGI 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.