Montrusco Bolton Investments Inc. Sells 7,531 Shares of CGI Inc. (NYSE:GIB)

Montrusco Bolton Investments Inc. lowered its position in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 7.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,679 shares of the technology company's stock after selling 7,531 shares during the quarter. Montrusco Bolton Investments Inc.'s holdings in CGI were worth $10,245,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. KFA Private Wealth Group LLC increased its stake in shares of CGI by 120.9% in the fourth quarter. KFA Private Wealth Group LLC now owns 12,350 shares of the technology company's stock valued at $1,350,000 after purchasing an additional 6,760 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of CGI in the fourth quarter valued at approximately $1,738,000. Blue Trust Inc. increased its stake 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 purchasing an additional 375 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of CGI by 3.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 15,492 shares of the technology company's stock valued at $1,694,000 after acquiring an additional 529 shares during the period. Finally, Canoe Financial LP acquired a new position in shares of CGI during the fourth quarter valued at approximately $94,390,000. Institutional investors and hedge funds own 66.68% of the company's stock.

CGI Price Performance

NYSE:GIB traded down $1.14 during trading hours on Friday, reaching $117.87. 376,125 shares of the company's stock were exchanged, compared to its average volume of 151,465. The company has a market capitalization of $26.86 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 2.49 and a beta of 0.95. CGI Inc. has a 12 month low of $96.92 and a 12 month high of $121.55. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.29. The business's 50-day simple moving average is $111.08 and its two-hundred day simple moving average is $111.41.

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 for the quarter, hitting analysts' consensus estimates of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.59%. Sell-side analysts expect that CGI Inc. will post 5.85 EPS for the current fiscal year.

CGI Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 14th will be paid a $0.1039 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Friday, February 14th. CGI's dividend payout ratio is 7.41%.

Analyst Ratings Changes

A number of research analysts recently commented on GIB shares. CIBC upgraded shares of CGI from a "neutral" rating to an "outperformer" rating and raised their price objective for the company from $155.00 to $178.00 in a research note on Tuesday, October 15th. Jefferies Financial Group lowered their price objective on shares of CGI from $140.00 to $135.00 and set a "buy" rating on the stock in a research note on Tuesday, January 21st. Cibc World Mkts upgraded shares of CGI from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 15th. Royal Bank of Canada reiterated an "outperform" rating and set a $178.00 price objective on shares of CGI in a research note on Monday, January 6th. Finally, StockNews.com upgraded shares of CGI from a "sell" rating to a "hold" rating in a research note on Friday, November 15th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, CGI presently has a consensus rating of "Buy" and an average price target of $150.75.

CGI 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.