CGI Inc. (NYSE:GIB) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its stake in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 179,856 shares of the technology company's stock after selling 5,718 shares during the period. Russell Investments Group Ltd. owned approximately 0.08% of CGI worth $19,663,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of CGI in the 3rd quarter valued at about $28,000. Sierra Ocean LLC acquired a new stake in shares of CGI in the 4th quarter worth approximately $62,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in CGI in the 4th quarter valued at approximately $83,000. Hoey Investments Inc. acquired a new position in CGI during the fourth quarter worth $99,000. Finally, Blue Trust Inc. raised its stake in shares of CGI by 47.6% during the 4th quarter. Blue Trust Inc. now owns 1,163 shares of the technology company's stock worth $134,000 after buying an additional 375 shares during the last quarter. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on GIB. UBS Group increased their price objective on CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Jefferies Financial Group lowered their price target 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, Royal Bank of Canada reissued an "outperform" rating and set a $192.00 price objective on shares of CGI in a research note on Wednesday, March 26th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $156.75.

CGI Stock Down 0.1 %

Shares of GIB traded down $0.13 during trading on Tuesday, reaching $102.93. The company's stock had a trading volume of 63,065 shares, compared to its average volume of 195,105. The company has a market cap of $23.34 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 2.58 and a beta of 0.85. 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 has a fifty day moving average of $106.43 and a two-hundred day moving average of $110.18. CGI Inc. has a twelve month low of $92.85 and a twelve month high of $122.79.

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 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, sell-side analysts predict that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 14th were issued a $0.1039 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.40%. CGI's dividend payout ratio (DPR) is 7.41%.

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.