AGF Management Ltd. trimmed its holdings in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 21.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 108,691 shares of the technology company's stock after selling 29,977 shares during the period. AGF Management Ltd.'s holdings in CGI were worth $12,749,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in CGI by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 998,470 shares of the technology company's stock valued at $115,844,000 after purchasing an additional 79,362 shares during the last quarter. Barclays PLC lifted its holdings in shares of CGI by 182.6% during the third quarter. Barclays PLC now owns 476,758 shares of the technology company's stock valued at $54,808,000 after acquiring an additional 308,040 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of CGI by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 560,159 shares of the technology company's stock worth $64,518,000 after purchasing an additional 21,427 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in CGI in the third quarter worth about $825,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of CGI by 68.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company's stock worth $157,485,000 after buying an additional 555,017 shares during the period. 66.68% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research analysts recently weighed in on the stock. Jefferies Financial Group reduced their price objective on shares of CGI from $140.00 to $135.00 and set a "buy" rating on the stock in a research note on Tuesday, January 21st. StockNews.com raised shares of CGI from a "sell" rating to a "hold" rating in a research note on Friday, November 15th. Royal Bank of Canada reissued an "outperform" rating and set a $178.00 price objective on shares of CGI in a research report on Monday, January 6th. Finally, UBS Group upped their target price on shares of CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $153.25.
Check Out Our Latest Stock Analysis on CGI
CGI Stock Performance
Shares of GIB opened at $103.86 on Wednesday. The firm has a market capitalization of $23.55 billion, a P/E ratio of 18.78, a P/E/G ratio of 2.58 and a beta of 0.96. CGI Inc. has a 52 week low of $96.92 and a 52 week high of $122.79. The stock has a 50 day moving average price of $112.27 and a two-hundred day moving average price of $112.53. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31.
CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last posted its earnings results on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, hitting the consensus estimate of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. Equities analysts forecast that CGI Inc. will post 5.79 earnings per share for the current fiscal year.
CGI Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 14th will be given a dividend of $0.1039 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.40%. CGI's dividend payout ratio is presently 7.41%.
CGI Profile
(
Free Report)
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.
Further Reading
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