C WorldWide Group Holding A S Sells 2,605 Shares of CGI Inc. (NYSE:GIB)

C WorldWide Group Holding A S cut its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 18.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,304 shares of the technology company’s stock after selling 2,605 shares during the quarter. C WorldWide Group Holding A S’s holdings in CGI were worth $1,236,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Crestwood Advisors Group LLC grew its holdings in shares of CGI by 2.4% during the third quarter. Crestwood Advisors Group LLC now owns 4,222 shares of the technology company’s stock worth $485,000 after buying an additional 97 shares in the last quarter. West Family Investments Inc. grew its holdings in shares of CGI by 5.5% during the third quarter. West Family Investments Inc. now owns 2,323 shares of the technology company’s stock worth $267,000 after buying an additional 121 shares in the last quarter. Signal Advisors Wealth LLC grew its holdings in shares of CGI by 4.5% during the fourth quarter. Signal Advisors Wealth LLC now owns 3,158 shares of the technology company’s stock worth $345,000 after buying an additional 135 shares in the last quarter. US Bancorp DE grew its holdings in shares of CGI by 8.4% during the third quarter. US Bancorp DE now owns 3,099 shares of the technology company’s stock worth $356,000 after buying an additional 240 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of CGI during the third quarter worth about $28,000. 66.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GIB has been the subject of a number of research reports. 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. Royal Bank of Canada restated an “outperform” rating and issued a $178.00 price target on shares of CGI in a research note on Monday, January 6th. StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Jefferies Financial Group decreased their price target on CGI from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Two 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. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $153.25.

CGI Stock Down 4.0 %

GIB stock opened at $112.58 on Monday. CGI Inc. has a twelve month low of $96.92 and a twelve month high of $122.79. The company has a market cap of $25.52 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 2.58 and a beta of 0.94. The business has a 50 day moving average price of $112.99 and a two-hundred day moving average price of $112.66. 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 (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. Analysts anticipate that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Dividend Announcement

The firm 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 $0.1039 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.37%. CGI’s payout ratio is 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.