Massachusetts Financial Services Co. MA Sells 104,023 Shares of CGI Inc. (NYSE:GIB)

Massachusetts Financial Services Co. MA decreased its stake in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 5.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,894,397 shares of the technology company's stock after selling 104,023 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.84% of CGI worth $207,095,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of GIB. Norges Bank bought a new position in shares of CGI during the fourth quarter valued at $286,970,000. Canoe Financial LP bought a new position in CGI during the 4th quarter valued at about $94,390,000. National Bank of Canada FI lifted 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 valued at $519,072,000 after purchasing an additional 861,771 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in CGI by 29.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company's stock valued at $327,007,000 after buying an additional 678,431 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of CGI by 182.6% during the third quarter. Barclays PLC now owns 476,758 shares of the technology company's stock worth $54,808,000 after buying an additional 308,040 shares in the last quarter. Institutional investors and hedge funds own 66.68% of the company's stock.

CGI Trading Up 5.5 %

Shares of GIB traded up $5.30 during trading hours on Wednesday, hitting $101.80. 447,508 shares of the stock traded hands, compared to its average volume of 193,190. The business has a fifty day moving average of $107.50 and a 200-day moving average of $110.50. The firm has a market capitalization of $23.08 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 2.58 and a beta of 0.85. CGI Inc. has a 1-year low of $92.85 and a 1-year high of $122.79. 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 (NYSE:GIB - Get Free Report) TSE: GIB.A last issued its earnings results 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 net margin of 11.72% and a return on equity of 19.32%. Analysts expect that CGI Inc. will post 5.79 EPS for the current year.

CGI Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 14th were issued a dividend of $0.1039 per share. This represents a $0.42 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Friday, February 14th. CGI's dividend payout ratio is presently 7.41%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Jefferies Financial Group decreased their price target on CGI from $140.00 to $135.00 and set a "buy" rating on the stock in a research report on Tuesday, January 21st. UBS Group raised their target price on 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 reiterated an "outperform" rating and set a $192.00 price target on shares of CGI in a research report on Wednesday, March 26th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $156.75.

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.