CGI Inc. (NYSE:GIB) Shares Sold by New South Capital Management Inc.

New South Capital Management Inc. decreased its position in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 608,631 shares of the technology company's stock after selling 10,285 shares during the period. CGI comprises 2.8% of New South Capital Management Inc.'s portfolio, making the stock its 9th largest holding. New South Capital Management Inc. owned 0.27% of CGI worth $66,536,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in CGI in the third quarter worth $28,000. Sierra Ocean LLC purchased a new position in shares of CGI in the 4th quarter valued at about $62,000. Blue Trust Inc. lifted its stake in shares of CGI by 47.6% in 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 during the period. Thrivent Financial for Lutherans acquired a new stake in shares of CGI in the third quarter valued at about $209,000. Finally, Olympiad Research LP purchased a new stake in CGI during the fourth quarter worth about $203,000. 66.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on GIB shares. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $178.00 target price on shares of CGI in a report on Monday, January 6th. StockNews.com raised CGI from a "sell" rating to a "hold" rating in a research note on Friday, November 15th. Jefferies Financial Group decreased their target price 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, UBS Group upped their target price on CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $153.25.

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CGI Price Performance

NYSE:GIB traded up $1.47 during trading hours on Friday, reaching $104.99. 338,441 shares of the company traded hands, compared to its average volume of 262,365. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.04. The firm's 50-day moving average is $112.47 and its 200-day moving average is $112.58. The stock has a market cap of $23.81 billion, a P/E ratio of 18.99, a P/E/G ratio of 2.58 and a beta of 0.96. CGI Inc. has a 1-year low of $96.92 and a 1-year high of $122.79.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 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%. Equities research analysts expect that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 14th will be given a $0.1039 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Friday, February 14th. CGI's dividend payout ratio is presently 7.41%.

CGI Company 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.