Clearbridge Investments LLC decreased its position in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 3.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 610,547 shares of the technology company's stock after selling 19,751 shares during the period. Clearbridge Investments LLC owned about 0.27% of CGI worth $66,745,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of CGI during the third quarter valued at $28,000. Sierra Ocean LLC acquired a new position in shares of CGI in the 4th quarter valued at about $62,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of CGI during the fourth quarter worth approximately $83,000. Blue Trust Inc. grew its position in CGI by 47.6% during the fourth quarter. Blue Trust Inc. now owns 1,163 shares of the technology company's stock valued at $134,000 after purchasing an additional 375 shares in the last quarter. Finally, Thrivent Financial for Lutherans acquired a new position in CGI in the 3rd quarter valued at approximately $209,000. 66.68% of the stock is currently owned by hedge funds and other institutional investors.
CGI Stock Down 2.7 %
Shares of GIB traded down $2.69 during trading hours on Friday, hitting $97.65. 307,023 shares of the company were exchanged, compared to its average volume of 187,181. 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 company has a market cap of $22.14 billion, a PE ratio of 17.58, a PEG ratio of 2.58 and a beta of 0.96. The firm's 50 day moving average is $109.53 and its 200-day moving average is $111.15. CGI Inc. has a 52 week low of $95.81 and a 52 week high of $122.79.
CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, meeting the consensus estimate of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. On average, equities research analysts forecast that CGI Inc. will post 5.79 EPS for the current fiscal year.
CGI Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 14th were issued a dividend of $0.1039 per share. This represents a $0.42 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Friday, February 14th. CGI's dividend payout ratio (DPR) is 7.41%.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on GIB. Jefferies Financial Group dropped their price target 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. Royal Bank of Canada reaffirmed an "outperform" rating and set a $192.00 price target on shares of CGI in a research note on Wednesday, March 26th. Finally, UBS Group lifted their price target on CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a report 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 company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $156.75.
Read Our Latest Analysis on GIB
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.
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