CGI Inc. (NYSE:GIB) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC reduced its holdings in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 50.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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.

Several other large investors also recently made changes to their positions in GIB. PCJ Investment Counsel Ltd. lifted its holdings in CGI by 3.1% in the 4th quarter. PCJ Investment Counsel Ltd. now owns 10,960 shares of the technology company's stock worth $1,198,000 after buying an additional 330 shares in the last quarter. Scheer Rowlett & Associates Investment Management Ltd. increased 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 worth $53,617,000 after acquiring an additional 101,475 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of CGI in the fourth quarter worth about $83,000. Andra AP fonden grew its stake in CGI by 45.1% during the 4th quarter. Andra AP fonden now owns 128,500 shares of the technology company's stock valued at $14,048,000 after purchasing an additional 39,935 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in CGI during the 4th quarter worth approximately $925,000. Institutional investors and hedge funds own 66.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GIB shares. 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 report on Tuesday, January 21st. 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 research note on Monday, February 3rd. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $192.00 target price on shares of CGI in a report on Wednesday, March 26th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $156.75.

CGI Stock Performance

NYSE:GIB traded down $3.83 during midday trading on Friday, reaching $96.51. 428,254 shares of the company traded hands, compared to its average volume of 188,079. CGI Inc. has a twelve month low of $95.75 and a twelve month 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. The company has a fifty day moving average price of $109.23 and a 200 day moving average price of $110.99. The firm has a market capitalization of $21.88 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last released 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 net margin of 11.72% and a return on equity of 19.32%. On average, analysts expect that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 14th were paid a dividend of $0.1039 per share. The ex-dividend date 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 is presently 7.41%.

About CGI

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.