CGI Inc. (NYSE:GIB) Shares Sold by Swiss National Bank

Swiss National Bank cut its stake in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 591,200 shares of the technology company's stock after selling 25,000 shares during the quarter. Swiss National Bank owned approximately 0.26% of CGI worth $64,655,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Sequoia Financial Advisors LLC grew its holdings in shares of CGI by 0.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 31,209 shares of the technology company's stock valued at $3,412,000 after purchasing an additional 111 shares during the last quarter. PCJ Investment Counsel Ltd. grew its holdings in CGI by 3.1% in the 4th quarter. PCJ Investment Counsel Ltd. now owns 10,960 shares of the technology company's stock worth $1,198,000 after buying an additional 330 shares in the last quarter. Scheer Rowlett & Associates Investment Management Ltd. grew its holdings in CGI by 26.1% in the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 490,663 shares of the technology company's stock worth $53,617,000 after buying an additional 101,475 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in CGI in the 4th quarter worth approximately $83,000. Finally, Andra AP fonden grew its holdings in CGI by 45.1% in the 4th quarter. Andra AP fonden now owns 128,500 shares of the technology company's stock worth $14,048,000 after buying an additional 39,935 shares in the last quarter. 66.68% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

GIB has been the subject of a number of recent analyst reports. Jefferies Financial Group decreased their price objective on CGI from $140.00 to $135.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. UBS Group increased their price objective on CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $178.00 price objective on shares of CGI in a report on Monday, January 6th. 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's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $153.25.

CGI Price Performance

GIB traded up $0.15 during trading on Wednesday, reaching $103.51. The stock had a trading volume of 245,156 shares, compared to its average volume of 265,168. The firm has a market capitalization of $23.47 billion, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. CGI Inc. has a 1-year low of $96.92 and a 1-year high of $122.79. The stock has a 50 day moving average of $111.66 and a two-hundred day moving average of $112.24.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last released 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 return on equity of 19.32% and a net margin of 11.72%. As a group, equities analysts anticipate that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.40%. CGI's dividend payout ratio (DPR) is presently 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.