Connor Clark & Lunn Investment Management Ltd. Trims Holdings in CGI Inc. (NYSE:GIB)

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 4.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,314,719 shares of the technology company's stock after selling 54,103 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.58% of CGI worth $143,666,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GIB. US Bancorp DE boosted its position in CGI by 8.4% during the third quarter. US Bancorp DE now owns 3,099 shares of the technology company's stock worth $356,000 after purchasing an additional 240 shares during the period. Atria Investments Inc bought a new position in shares of CGI in the third quarter valued at approximately $218,000. Versor Investments LP boosted its position in shares of CGI by 35.2% in the third quarter. Versor Investments LP now owns 4,599 shares of the technology company's stock valued at $529,000 after acquiring an additional 1,197 shares during the period. Metis Global Partners LLC boosted its position in shares of CGI by 12.7% in the third quarter. Metis Global Partners LLC now owns 10,426 shares of the technology company's stock valued at $1,200,000 after acquiring an additional 1,171 shares during the period. Finally, Natixis Advisors LLC boosted its holdings in CGI by 18.2% in the third quarter. Natixis Advisors LLC now owns 23,165 shares of the technology company's stock valued at $2,663,000 after acquiring an additional 3,564 shares in the last quarter. Institutional investors own 66.68% of the company's stock.

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Analyst Upgrades and Downgrades

GIB has been the topic of several recent analyst reports. Jefferies Financial Group cut their price target on shares of CGI from $140.00 to $135.00 and set a "buy" rating on the stock in a report on Tuesday, January 21st. UBS Group lifted their price target on shares of CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $178.00 price target on shares of CGI in a report on Monday, January 6th. Two 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 MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $153.25.

CGI Stock Up 2.6 %

CGI stock traded up $2.57 during mid-day trading on Friday, reaching $103.09. The stock had a trading volume of 210,351 shares, compared to its average volume of 266,638. The company has a market capitalization of $23.37 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 2.58 and a beta of 0.96. The company has a 50-day moving average price of $111.85 and a two-hundred day moving average price of $112.36. CGI Inc. has a one year low of $96.92 and a one year high of $122.79. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.04.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last issued its earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share for the quarter, hitting analysts' consensus estimates of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. On average, analysts expect that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Dividend Announcement

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