CGI Inc. (NYSE:GIB) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 4.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 199,522 shares of the technology company’s stock after buying an additional 8,425 shares during the period. Russell Investments Group Ltd.’s holdings in CGI were worth $21,060,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Belpointe Asset Management LLC raised its position in shares of CGI by 2,507.1% during the 1st quarter. Belpointe Asset Management LLC now owns 365 shares of the technology company’s stock worth $35,000 after acquiring an additional 351 shares in the last quarter. Global Retirement Partners LLC increased its position in CGI by 332.0% during the first quarter. Global Retirement Partners LLC now owns 419 shares of the technology company’s stock worth $43,000 after buying an additional 322 shares during the period. Tobam increased its position in CGI by 149.8% during the first quarter. Tobam now owns 592 shares of the technology company’s stock worth $57,000 after buying an additional 355 shares during the period. Hollencrest Capital Management increased its position in CGI by 14.3% during the first quarter. Hollencrest Capital Management now owns 902 shares of the technology company’s stock worth $87,000 after buying an additional 113 shares during the period. Finally, Chilton Capital Management LLC acquired a new position in CGI during the first quarter worth approximately $120,000. Institutional investors and hedge funds own 49.02% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on CGI in a research report on Thursday, October 5th. They set a “hold” rating on the stock.

CGI Trading Up 0.6 %

Shares of GIB stock opened at $101.76 on Tuesday. The business’s 50 day moving average is $99.61 and its two-hundred day moving average is $101.75. CGI Inc. has a twelve month low of $83.35 and a twelve month high of $107.66. The company has a market capitalization of $23.95 billion, a P/E ratio of 19.99, a price-to-earnings-growth ratio of 1.87 and a beta of 0.91. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 0.23.

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.