Clearbridge Investments LLC Sells 19,751 Shares of CGI Inc. (NYSE:GIB)

Clearbridge Investments LLC decreased its stake in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 3.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 610,547 shares of the technology company's stock after selling 19,751 shares during the period. Clearbridge Investments LLC owned 0.27% of CGI worth $66,745,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GIB. Metis Global Partners LLC grew its stake in CGI by 1.0% in the fourth quarter. Metis Global Partners LLC now owns 10,534 shares of the technology company's stock valued at $1,153,000 after purchasing an additional 108 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of CGI by 0.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 31,209 shares of the technology company's stock valued at $3,412,000 after purchasing an additional 111 shares during the period. Signal Advisors Wealth LLC lifted its position in CGI by 4.5% during the fourth quarter. Signal Advisors Wealth LLC now owns 3,158 shares of the technology company's stock worth $345,000 after acquiring an additional 135 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in CGI during the 3rd quarter worth approximately $28,000. Finally, PCJ Investment Counsel Ltd. lifted 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 worth $1,198,000 after buying an additional 330 shares in the last quarter. Institutional investors and hedge funds own 66.68% of the company's stock.

Wall Street Analysts Forecast Growth

GIB has been the topic of a number of analyst reports. UBS Group increased their target price 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. Jefferies Financial Group reduced their price target on CGI from $140.00 to $135.00 and set a "buy" rating on the stock in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $192.00 target price on shares of CGI in a research report on Wednesday, March 26th. Two investment 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. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $156.75.

CGI Price Performance

Shares of GIB traded down $3.83 during midday trading on Friday, hitting $96.51. The company's stock had a trading volume of 428,254 shares, compared to its average volume of 188,079. 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 Inc. has a one year low of $95.75 and a one year high of $122.79. The stock has a market capitalization of $21.88 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96. The company's fifty day simple moving average is $109.23 and its two-hundred day simple moving average is $110.99.

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 (EPS) for the quarter, meeting analysts' consensus estimates of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. As a group, equities analysts expect that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Announces Dividend

The business 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. This represents a $0.42 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Friday, February 14th. CGI's payout ratio is 7.41%.

About CGI

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.