Montrusco Bolton Investments Inc. Sells 1,985 Shares of CGI Inc. (NYSE:GIB)

Montrusco Bolton Investments Inc. decreased its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 8.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,454 shares of the technology company’s stock after selling 1,985 shares during the period. Montrusco Bolton Investments Inc.’s holdings in CGI were worth $2,202,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in CGI by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 278,213 shares of the technology company’s stock worth $27,401,000 after acquiring an additional 3,153 shares in the last quarter. Park Avenue Securities LLC purchased a new position in CGI in the third quarter worth about $394,000. Allworth Financial LP grew its holdings in shares of CGI by 130.9% during the third quarter. Allworth Financial LP now owns 651 shares of the technology company’s stock valued at $64,000 after buying an additional 369 shares during the last quarter. Signaturefd LLC increased its position in shares of CGI by 6.0% during the third quarter. Signaturefd LLC now owns 7,803 shares of the technology company’s stock valued at $769,000 after acquiring an additional 440 shares in the last quarter. Finally, Syon Capital LLC purchased a new position in CGI in the 3rd quarter worth approximately $277,000. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

CGI Stock Performance

CGI stock traded up $0.72 during mid-day trading on Friday, reaching $105.14. 186,984 shares of the stock traded hands, compared to its average volume of 206,498. CGI Inc. has a 12-month low of $93.07 and a 12-month high of $118.89. The business’s 50-day moving average is $107.33 and its 200-day moving average is $107.32. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.17 and a quick ratio of 0.86. The stock has a market capitalization of $24.43 billion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 2.43 and a beta of 0.93.

Analyst Upgrades and Downgrades

A number of analysts have commented on GIB shares. CIBC reduced their target price on CGI from $169.00 to $165.00 and set an “outperformer” rating for the company in a report on Thursday, May 2nd. TD Securities raised CGI from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. Finally, StockNews.com downgraded shares of CGI from a “buy” rating to a “hold” rating in a report on Monday, March 11th.

About CGI

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.