AGF Management Ltd. Sells 29,977 Shares of CGI Inc. (NYSE:GIB)

AGF Management Ltd. decreased its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 21.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 108,691 shares of the technology company’s stock after selling 29,977 shares during the quarter. AGF Management Ltd.’s holdings in CGI were worth $12,749,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. PCJ Investment Counsel Ltd. boosted its stake in shares of CGI by 3.1% during the fourth quarter. PCJ Investment Counsel Ltd. now owns 10,960 shares of the technology company’s stock valued at $1,198,000 after purchasing an additional 330 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. boosted its stake in shares of CGI by 26.1% during the fourth quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 490,663 shares of the technology company’s stock valued at $53,617,000 after purchasing an additional 101,475 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of CGI during the fourth quarter valued at approximately $83,000. Andra AP fonden boosted its stake in shares of CGI by 45.1% during the fourth quarter. Andra AP fonden now owns 128,500 shares of the technology company’s stock valued at $14,048,000 after purchasing an additional 39,935 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of CGI during the fourth quarter valued at approximately $925,000. Institutional investors own 66.68% of the company’s stock.

Wall Street Analysts Forecast Growth

GIB has been the subject of a number of recent analyst reports. Jefferies Financial Group decreased their target price 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 upped their target price on CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $178.00 target price on shares of CGI in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $153.25.

CGI Trading Down 0.5 %

Shares of GIB opened at $103.86 on Wednesday. The firm has a market cap of $23.55 billion, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.04. CGI Inc. has a 1 year low of $96.92 and a 1 year high of $122.79. The company has a 50 day simple moving average of $112.27 and a two-hundred day simple moving average of $112.53.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, meeting analysts’ consensus estimates of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. On average, equities analysts expect that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 14th will be issued a dividend of $0.1039 per share. This represents a $0.42 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Friday, February 14th. 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.