Beutel Goodman & Co Ltd. cut its position in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 9.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,422,615 shares of the technology company's stock after selling 367,916 shares during the period. CGI accounts for 2.0% of Beutel Goodman & Co Ltd.'s investment portfolio, making the stock its 17th largest holding. Beutel Goodman & Co Ltd. owned approximately 1.51% of CGI worth $374,293,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of CGI during the third quarter worth $28,000. Sierra Ocean LLC acquired a new position in shares of CGI during the 4th quarter worth about $62,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of CGI in the 4th quarter valued at about $83,000. Blue Trust Inc. increased its holdings in shares of CGI by 47.6% in the 4th quarter. Blue Trust Inc. now owns 1,163 shares of the technology company's stock valued at $134,000 after acquiring an additional 375 shares during the last quarter. Finally, Thrivent Financial for Lutherans acquired a new stake in shares of CGI during the 3rd quarter worth about $209,000. 66.68% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
GIB has been the subject of a number of research analyst reports. 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. Jefferies Financial Group lowered their target price on shares of CGI from $140.00 to $135.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. Finally, UBS Group lifted their price target 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 research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, CGI has an average rating of "Buy" and an average target price of $156.75.
Check Out Our Latest Stock Analysis on GIB
CGI Stock Performance
Shares of GIB traded up $0.82 during mid-day trading on Wednesday, reaching $101.61. 231,925 shares of the company's stock were exchanged, compared to its average volume of 184,570. The business's fifty day simple moving average is $109.94 and its 200-day simple moving average is $111.29. The stock has a market capitalization of $23.04 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96. CGI Inc. has a 52-week low of $96.75 and a 52-week high of $122.79. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.04.
CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 earnings per share (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%. On average, equities research analysts expect that CGI Inc. will post 5.79 earnings per share for the current year.
CGI Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 14th were given a $0.1039 dividend. This represents a $0.42 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Friday, February 14th. CGI's dividend payout ratio (DPR) is presently 7.41%.
CGI Company Profile
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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.
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