Intech Investment Management LLC cut its stake in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 61.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,969 shares of the technology company's stock after selling 12,651 shares during the period. Intech Investment Management LLC's holdings in CGI were worth $871,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB bought a new stake in shares of CGI in the third quarter valued at about $28,000. Sierra Ocean LLC bought a new stake in shares of CGI in the 4th quarter worth approximately $62,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of CGI during the fourth quarter valued at approximately $83,000. Blue Trust Inc. lifted its position in CGI by 47.6% in the fourth quarter. Blue Trust Inc. now owns 1,163 shares of the technology company's stock worth $134,000 after purchasing an additional 375 shares during the period. Finally, Olympiad Research LP acquired a new stake in CGI during the fourth quarter worth $203,000. 66.68% of the stock is currently owned by institutional investors and hedge funds.
CGI Trading Down 0.8 %
NYSE:GIB traded down $0.81 during trading hours on Thursday, hitting $99.38. 197,149 shares of the stock were exchanged, compared to its average volume of 179,189. The company has a market capitalization of $22.53 billion, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The company's 50 day moving average is $110.71 and its two-hundred day moving average is $111.74. CGI Inc. has a twelve month low of $96.92 and a twelve month high of $122.79.
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, hitting the consensus estimate of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. On average, sell-side analysts anticipate that CGI Inc. will post 5.79 earnings per share for the current fiscal year.
CGI Dividend Announcement
The firm also recently announced 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 0.42%. The ex-dividend date of this dividend was Friday, February 14th. CGI's dividend payout ratio is presently 7.41%.
Wall Street Analyst Weigh In
GIB has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $192.00 price objective on shares of CGI in a report on Wednesday. UBS Group boosted their price objective on CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Finally, Jefferies Financial Group lowered their target price on CGI from $140.00 to $135.00 and set a "buy" rating for the company in a research note on Tuesday, January 21st. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $156.75.
Get Our Latest Analysis on CGI
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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