CGI Inc. (NYSE:GIB) Stock Position Reduced by Louisbourg Investments Inc.

Louisbourg Investments Inc. decreased its stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,627 shares of the technology company’s stock after selling 191 shares during the quarter. Louisbourg Investments Inc.’s holdings in CGI were worth $2,256,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GIB. Wilmington Savings Fund Society FSB acquired a new position in shares of CGI in the third quarter worth $28,000. Blue Trust Inc. increased its position in CGI by 288.2% in the 3rd quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock worth $91,000 after purchasing an additional 585 shares during the last quarter. CWM LLC raised its stake in shares of CGI by 14.8% during the 3rd quarter. CWM LLC now owns 1,365 shares of the technology company’s stock worth $157,000 after purchasing an additional 176 shares in the last quarter. Werba Rubin Papier Wealth Management acquired a new stake in shares of CGI during the 3rd quarter valued at about $208,000. Finally, Thrivent Financial for Lutherans bought a new stake in shares of CGI in the 3rd quarter valued at approximately $209,000. Institutional investors and hedge funds own 66.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Jefferies Financial Group reduced their target price on shares of CGI from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and lifted their price objective for the company from $155.00 to $178.00 in a research note on Tuesday, October 15th. StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $178.00 price target on shares of CGI in a research report on Monday, January 6th. Finally, UBS Group upped their price target on CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Two research 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $153.25.

CGI Stock Performance

Shares of GIB opened at $120.85 on Wednesday. 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 one year low of $96.92 and a one year high of $121.55. The company’s fifty day moving average price is $112.08 and its 200 day moving average price is $112.07. The company has a market capitalization of $27.40 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 2.62 and a beta of 0.94.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 earnings per share for the quarter, hitting the consensus estimate of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. As a group, analysts expect that CGI Inc. will post 5.79 earnings per share for the current 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 paid a $0.1039 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.42 annualized dividend and a dividend yield of 0.34%. CGI’s payout ratio is 8.32%.

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.