Charles Schwab Investment Management Inc. Has $60.84 Million Stock Position in CGI Inc. (NYSE:GIB)

Charles Schwab Investment Management Inc. cut its holdings in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 556,279 shares of the technology company's stock after selling 3,880 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.25% of CGI worth $60,836,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of CGI in the third quarter valued at $28,000. Sierra Ocean LLC bought a new stake in CGI during the 4th quarter worth about $62,000. Blue Trust Inc. raised its holdings in 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 purchasing an additional 375 shares during the last quarter. Olympiad Research LP bought a new stake in CGI during the 4th quarter worth about $203,000. Finally, Thrivent Financial for Lutherans bought a new stake in CGI during the 3rd quarter worth about $209,000. 66.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Trading Up 2.6 %

Shares of CGI stock traded up $2.57 during trading on Friday, hitting $103.09. 210,351 shares of the company were exchanged, compared to its average volume of 266,638. The firm has a market capitalization of $23.37 billion, a P/E ratio of 18.64, a price-to-earnings-growth 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. The firm's fifty day moving average price is $111.85 and its 200 day moving average price is $112.35. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.04.

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

CGI Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Royal Bank of Canada reissued an "outperform" rating and set a $178.00 price objective on shares of CGI in a report on Monday, January 6th. UBS Group boosted their price objective on CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Finally, Jefferies Financial Group dropped their price objective on CGI from $140.00 to $135.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $153.25.

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.