Callan Family Office LLC Sells 1,010 Shares of CGI Inc. (NYSE:GIB)

Callan Family Office LLC reduced its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 24.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,145 shares of the technology company’s stock after selling 1,010 shares during the quarter. Callan Family Office LLC’s holdings in CGI were worth $344,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in CGI by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 998,470 shares of the technology company’s stock worth $115,844,000 after purchasing an additional 79,362 shares during the last quarter. Barclays PLC grew its position in shares of CGI by 182.6% during the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock worth $54,808,000 after buying an additional 308,040 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of CGI by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 560,159 shares of the technology company’s stock worth $64,518,000 after buying an additional 21,427 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in shares of CGI during the 3rd quarter worth about $825,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of CGI by 68.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock worth $157,485,000 after buying an additional 555,017 shares during the period. 66.68% of the stock is owned by institutional investors.

CGI Price Performance

Shares of GIB opened at $104.55 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31. The stock has a 50 day simple moving average of $112.38 and a 200 day simple moving average of $112.57. CGI Inc. has a 52-week low of $96.92 and a 52-week high of $122.79. The firm has a market capitalization of $23.70 billion, a PE ratio of 18.91, a P/E/G ratio of 2.58 and a beta of 0.96.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. Sell-side analysts predict that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 14th will be given a dividend of $0.1039 per share. This represents a $0.42 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Friday, February 14th. CGI’s dividend payout ratio (DPR) is currently 7.41%.

Wall Street Analysts Forecast Growth

GIB has been the subject of several analyst reports. StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. UBS Group boosted their target price on CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and set a $178.00 target price on shares of CGI in a research report on Monday, January 6th. Finally, 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 research report on Tuesday, January 21st. 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $153.25.

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.