Bank of Nova Scotia Trust Co. Sells 5,227 Shares of CGI Inc. (NYSE:GIB)

Bank of Nova Scotia Trust Co. cut its position in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 113,217 shares of the technology company's stock after selling 5,227 shares during the period. CGI makes up about 1.3% of Bank of Nova Scotia Trust Co.'s portfolio, making the stock its 27th biggest holding. Bank of Nova Scotia Trust Co.'s holdings in CGI were worth $12,377,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GIB. Norges Bank bought a new position in shares of CGI during the 4th quarter valued at approximately $286,970,000. Canoe Financial LP purchased a new stake in CGI during the fourth quarter valued at $94,390,000. Arrowstreet Capital Limited Partnership lifted its position in CGI by 29.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company's stock valued at $327,007,000 after purchasing an additional 678,431 shares during the last quarter. Bank of Montreal Can grew its stake in shares of CGI by 17.3% in the 4th quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company's stock worth $419,976,000 after buying an additional 567,868 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of CGI by 182.6% in the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company's stock worth $54,808,000 after buying an additional 308,040 shares during the last quarter. Hedge funds and other institutional investors own 66.68% of the company's stock.

CGI Stock Performance

GIB stock opened at $105.32 on Friday. CGI Inc. has a twelve month low of $92.85 and a twelve month high of $122.79. The firm has a market cap of $23.88 billion, a price-to-earnings ratio of 19.04, a PEG ratio of 2.58 and a beta of 0.85. The business's fifty day simple moving average is $105.20 and its two-hundred day simple moving average is $109.97. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its quarterly earnings data 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%. Analysts predict that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 14th were paid a $0.1039 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.42 annualized dividend and a yield of 0.39%. CGI's dividend payout ratio (DPR) is currently 7.41%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GIB. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $192.00 price target on shares of CGI in a report on Wednesday, March 26th. UBS Group raised their price target on CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Finally, Jefferies Financial Group cut their price objective on shares of CGI from $140.00 to $135.00 and set a "buy" rating on the stock in a research report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, CGI currently has a consensus rating of "Buy" and a consensus price target of $156.75.

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.

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