Achmea Investment Management B.V. Reduces Stock Position in CGI Inc. (NYSE:GIB)

Achmea Investment Management B.V. reduced its holdings in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 25.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,941 shares of the technology company's stock after selling 27,983 shares during the quarter. Achmea Investment Management B.V.'s holdings in CGI were worth $8,743,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Sequoia Financial Advisors LLC grew its holdings in shares of CGI by 0.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 31,209 shares of the technology company's stock valued at $3,412,000 after buying an additional 111 shares during the last quarter. PCJ Investment Counsel Ltd. grew its holdings in shares of CGI by 3.1% during the fourth quarter. PCJ Investment Counsel Ltd. now owns 10,960 shares of the technology company's stock valued at $1,198,000 after buying an additional 330 shares during the last quarter. Scheer Rowlett & Associates Investment Management Ltd. grew its holdings in shares of CGI by 26.1% during the fourth quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 490,663 shares of the technology company's stock valued at $53,617,000 after buying an additional 101,475 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of CGI during the fourth quarter valued at about $83,000. Finally, Andra AP fonden grew its holdings in shares of CGI by 45.1% during the fourth quarter. Andra AP fonden now owns 128,500 shares of the technology company's stock valued at $14,048,000 after buying an additional 39,935 shares during the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

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CGI Stock Performance

GIB traded down $0.87 during midday trading on Tuesday, reaching $103.29. The company had a trading volume of 252,929 shares, compared to its average volume of 175,318. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31. The stock has a market cap of $23.42 billion, a PE ratio of 18.68, a P/E/G ratio of 2.58 and a beta of 0.96. CGI Inc. has a 12-month low of $96.92 and a 12-month high of $122.79. The business has a 50-day moving average price of $111.76 and a two-hundred day moving average price of $112.31.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last released its earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share for the quarter, meeting analysts' consensus estimates of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. On average, sell-side analysts expect that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 14th will be paid a $0.1039 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Friday, February 14th. CGI's payout ratio is 7.41%.

Analysts Set New Price Targets

Several research firms recently weighed in on GIB. Royal Bank of Canada restated an "outperform" rating and set a $178.00 price target on shares of CGI in a report on Monday, January 6th. Jefferies Financial Group reduced their price objective on shares of CGI from $140.00 to $135.00 and set a "buy" rating for the company in a research report on Tuesday, January 21st. Finally, UBS Group upped their price objective on shares of CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $153.25.

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.