CGI Inc. (NYSE:GIB) Shares Sold by FIL Ltd

FIL Ltd cut its holdings in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 28.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,593,658 shares of the technology company's stock after selling 1,423,652 shares during the period. FIL Ltd owned about 1.58% of CGI worth $393,204,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in CGI during the third quarter worth approximately $28,000. Sierra Ocean LLC acquired a new position in shares of CGI in the 4th quarter valued at $62,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of CGI in the 4th quarter valued at $83,000. Hoey Investments Inc. purchased a new stake in CGI in the fourth quarter valued at $99,000. Finally, Blue Trust Inc. boosted its stake in 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 acquiring an additional 375 shares in the last quarter. 66.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on GIB. Royal Bank of Canada restated an "outperform" rating and set a $192.00 price target on shares of CGI in a research note on Wednesday, March 26th. Jefferies Financial Group decreased their price target on shares of CGI from $140.00 to $135.00 and set a "buy" rating for the company in a research note on Tuesday, January 21st. Finally, UBS Group upped their target price on shares of CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $156.75.

CGI Price Performance

NYSE:GIB traded up $3.82 during trading hours on Friday, hitting $102.03. The company's stock had a trading volume of 410,298 shares, compared to its average volume of 195,366. The company has a market capitalization of $23.13 billion, a PE ratio of 18.45, a PEG ratio of 2.58 and a beta of 0.85. CGI Inc. has a 52-week low of $92.85 and a 52-week high of $122.79. The business's 50-day moving average is $106.77 and its two-hundred day moving average is $110.26. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 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, research analysts anticipate that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 14th were issued a $0.1039 dividend. This represents a $0.42 annualized dividend and a yield of 0.41%. The ex-dividend date was Friday, February 14th. 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.