Intact Investment Management Inc. Has $4.11 Million Stake in CGI Inc. (NYSE:GIB)

Intact Investment Management Inc. lessened its stake in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 73.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,605 shares of the technology company's stock after selling 103,500 shares during the quarter. Intact Investment Management Inc.'s holdings in CGI were worth $4,114,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in CGI in the third quarter valued at about $28,000. Sierra Ocean LLC bought a new stake in CGI in the fourth quarter valued at about $62,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in CGI in the fourth quarter valued at about $83,000. Blue Trust Inc. increased its holdings 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 purchasing an additional 375 shares during the last quarter. Finally, Olympiad Research LP bought a new stake in CGI in the fourth quarter valued at about $203,000. Institutional investors own 66.68% of the company's stock.

CGI Stock Up 0.1 %

Shares of NYSE:GIB traded up $0.15 during mid-day trading on Wednesday, reaching $103.51. 245,156 shares of the stock were exchanged, compared to its average volume of 175,879. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The company has a market cap of $23.47 billion, a P/E ratio of 18.72, a P/E/G ratio of 2.58 and a beta of 0.96. CGI Inc. has a one year low of $96.92 and a one year high of $122.79. The stock's 50 day simple moving average is $111.66 and its 200-day simple moving average is $112.24.

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

CGI Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have issued reports on GIB. UBS Group increased their price target on CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Jefferies Financial Group lowered their price target on CGI from $140.00 to $135.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. Finally, Royal Bank of Canada restated 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 data from MarketBeat, the company has an average rating of "Buy" and an average target price of $153.25.

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.