Invesco Ltd. Lowers Holdings in CGI Inc. (NYSE:GIB)

Invesco Ltd. reduced its position in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 5.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,021,162 shares of the technology company's stock after selling 124,215 shares during the period. Invesco Ltd. owned 0.89% of CGI worth $220,953,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of CGI during the third quarter worth about $28,000. Sierra Ocean LLC purchased a new position in CGI in the 4th quarter valued at $62,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in CGI in the 4th quarter valued at $83,000. Hoey Investments Inc. purchased a new position in CGI during the 4th quarter worth $99,000. Finally, Blue Trust Inc. boosted its holdings in shares of 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 institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GIB has been the subject of a number of recent analyst reports. Royal Bank of Canada restated an "outperform" rating and issued a $192.00 price objective on shares of CGI in a research report on Wednesday, March 26th. Jefferies Financial Group reduced their target price on CGI from $140.00 to $135.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. Finally, UBS Group upped their price target on shares of CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Two equities 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. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $156.75.

CGI Price Performance

Shares of NYSE GIB traded up $1.31 on Thursday, hitting $105.47. The company's stock had a trading volume of 86,723 shares, compared to its average volume of 196,288. 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 Inc. has a 12-month low of $92.85 and a 12-month high of $122.79. The company has a market capitalization of $23.91 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 2.58 and a beta of 0.85. The stock has a 50 day moving average of $105.82 and a 200-day moving average of $110.09.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 earnings per share (EPS) for the quarter, meeting 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 predict that CGI Inc. will post 5.79 EPS for the current year.

CGI Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 14th were given 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 yield of 0.39%. CGI's dividend payout ratio (DPR) 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.