HighTower Advisors LLC Cuts Holdings in CGI Inc. (NYSE:GIB)

HighTower Advisors LLC decreased its holdings in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 50.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,947 shares of the technology company's stock after selling 4,085 shares during the quarter. HighTower Advisors LLC's holdings in CGI were worth $432,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Canoe Financial LP bought a new position in shares of CGI in the fourth quarter valued at approximately $94,390,000. National Bank of Canada FI boosted its holdings in CGI by 23.6% during the 3rd quarter. National Bank of Canada FI now owns 4,513,733 shares of the technology company's stock worth $519,072,000 after acquiring an additional 861,771 shares during the last quarter. Barclays PLC grew its stake in shares of CGI by 182.6% in the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company's stock worth $54,808,000 after acquiring an additional 308,040 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of CGI by 23.9% in the third quarter. Toronto Dominion Bank now owns 561,741 shares of the technology company's stock valued at $64,578,000 after purchasing an additional 108,428 shares during the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. lifted its position in shares of CGI by 26.1% during the fourth quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 490,663 shares of the technology company's stock valued at $53,617,000 after purchasing an additional 101,475 shares in the last quarter. Institutional investors and hedge funds own 66.68% of the company's stock.

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CGI Stock Performance

Shares of GIB traded down $3.97 during trading hours on Friday, hitting $96.37. The company's stock had a trading volume of 216,590 shares, compared to its average volume of 186,870. The business has a 50 day simple moving average of $109.53 and a two-hundred day simple moving average of $111.15. The company has a market cap of $21.85 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 2.58 and a beta of 0.96. CGI Inc. has a 52-week low of $95.81 and a 52-week 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 released its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 earnings per share (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%. On average, equities 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 was paid on Friday, March 21st. Stockholders of record on Friday, February 14th were given a $0.1039 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.43%. CGI's dividend payout ratio (DPR) is currently 7.41%.

Analysts Set New Price Targets

GIB has been the subject of several analyst reports. UBS Group increased their price objective on shares of 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 objective on shares of CGI from $140.00 to $135.00 and set a "buy" rating on the stock in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $192.00 target price on shares of CGI in a research report on Wednesday, March 26th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $156.75.

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.