Alberta Investment Management Corp Trims Holdings in CGI Inc. (NYSE:GIB)

Alberta Investment Management Corp cut its holdings in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 16.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 893,061 shares of the technology company's stock after selling 171,905 shares during the quarter. CGI accounts for 0.7% of Alberta Investment Management Corp's investment portfolio, making the stock its 23rd largest position. Alberta Investment Management Corp owned about 0.39% of CGI worth $97,664,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in GIB. Canoe Financial LP purchased a new stake in CGI in the 4th quarter worth $94,390,000. National Bank of Canada FI grew its position in shares of CGI by 23.6% in the third quarter. National Bank of Canada FI now owns 4,513,733 shares of the technology company's stock valued at $519,072,000 after purchasing an additional 861,771 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of CGI by 68.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company's stock worth $157,485,000 after purchasing an additional 555,017 shares in the last quarter. Barclays PLC raised its position in shares of CGI by 182.6% during the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company's stock worth $54,808,000 after purchasing an additional 308,040 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in CGI by 1.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,290,487 shares of the technology company's stock valued at $1,876,550,000 after buying an additional 230,000 shares in the last quarter. 66.68% of the stock is owned by institutional investors and hedge funds.

CGI Trading Down 4.0 %

Shares of NYSE GIB traded down $4.75 during trading on Friday, hitting $112.58. 487,409 shares of the company were exchanged, compared to its average volume of 219,107. The company has a fifty day moving average price of $112.99 and a 200-day moving average price of $112.52. 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 firm has a market capitalization of $25.52 billion, a PE ratio of 20.36, a P/E/G ratio of 2.60 and a beta of 0.94. CGI Inc. has a 12-month low of $96.92 and a 12-month high of $122.79.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last issued its earnings results on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, hitting analysts' consensus estimates of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. As a group, equities research analysts expect that CGI Inc. will post 5.79 EPS for the current year.

CGI Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 14th will be given a $0.1039 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.42 annualized dividend and a yield of 0.37%. CGI's payout ratio is 7.41%.

Analyst Upgrades and Downgrades

Several research firms have commented on GIB. Royal Bank of Canada reiterated an "outperform" rating and set a $178.00 price objective on shares of CGI in a research note on Monday, January 6th. Jefferies Financial Group lowered their target price 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 upgraded shares of CGI from a "sell" rating to a "hold" rating in a research report on Friday, November 15th. Finally, UBS Group raised 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 equities research 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 stock. According to MarketBeat.com, the stock currently 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.