Korea Investment CORP reduced its stake in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 21.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 114,736 shares of the technology company's stock after selling 32,200 shares during the quarter. Korea Investment CORP owned 0.05% of CGI worth $12,547,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Thrivent Financial for Lutherans purchased a new stake in CGI during the 3rd quarter worth approximately $209,000. Cerity Partners LLC grew its position in shares of CGI by 60.2% during the third quarter. Cerity Partners LLC now owns 7,379 shares of the technology company's stock worth $848,000 after buying an additional 2,772 shares in the last quarter. Townsquare Capital LLC purchased a new stake in shares of CGI during the third quarter worth approximately $281,000. Glenmede Trust Co. NA acquired a new stake in CGI in the third quarter valued at approximately $273,000. Finally, Verition Fund Management LLC acquired a new stake in CGI in the third quarter valued at approximately $307,000. Hedge funds and other institutional investors own 66.68% of the company's stock.
CGI Stock Performance
Shares of NYSE GIB traded down $3.83 during trading hours on Friday, reaching $96.51. The stock had a trading volume of 428,254 shares, compared to its average volume of 187,788. The firm has a 50-day moving average of $109.23 and a 200-day moving average of $111.02. The firm has a market cap of $21.88 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 2.58 and a beta of 0.96. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28. CGI Inc. has a fifty-two week low of $95.81 and a fifty-two week high of $122.79.
CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share 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%. Equities research analysts predict that CGI Inc. will post 5.79 earnings per share for the current year.
CGI Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 14th were given a $0.1039 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.42 dividend on an annualized basis and a yield of 0.43%. CGI's dividend payout ratio (DPR) is 7.41%.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group decreased their price objective 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. 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. Finally, UBS Group upped their price target on CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $156.75.
Read Our Latest Analysis on GIB
About CGI
(
Free Report)
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.
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