Galibier Capital Management Ltd. Sells 28,377 Shares of CGI Inc. (NYSE:GIB)

Galibier Capital Management Ltd. lessened its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 12.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 197,010 shares of the technology company’s stock after selling 28,377 shares during the period. CGI accounts for approximately 6.2% of Galibier Capital Management Ltd.’s investment portfolio, making the stock its 9th biggest holding. Galibier Capital Management Ltd.’s holdings in CGI were worth $21,545,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Crestwood Advisors Group LLC boosted its holdings in shares of CGI by 2.4% in the 3rd quarter. Crestwood Advisors Group LLC now owns 4,222 shares of the technology company’s stock valued at $485,000 after buying an additional 97 shares during the period. West Family Investments Inc. boosted its stake in CGI by 5.5% in the third quarter. West Family Investments Inc. now owns 2,323 shares of the technology company’s stock valued at $267,000 after acquiring an additional 121 shares during the period. 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 valued at $345,000 after purchasing an additional 135 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of CGI by 9.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock worth $205,000 after purchasing an additional 173 shares during the period. Finally, CWM LLC lifted its holdings in shares of CGI by 14.8% in 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 during the last quarter. Institutional investors own 66.68% of the company’s stock.

CGI Stock Performance

GIB stock opened at $108.42 on Friday. The company has a 50-day simple moving average of $110.54 and a 200 day simple moving average of $110.62. The company has a market capitalization of $24.71 billion, a P/E ratio of 20.15, a PEG ratio of 2.31 and a beta of 0.95. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.29. CGI Inc. has a fifty-two week low of $96.92 and a fifty-two week high of $118.89.

CGI Dividend Announcement

The business also recently declared a — dividend, which was paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th were paid a $0.111 dividend. This represents a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, November 20th. CGI’s dividend payout ratio is currently 8.55%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $178.00 price objective on shares of CGI in a research note on Monday, January 6th. CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and increased their price objective for the stock from $155.00 to $178.00 in a report on Tuesday, October 15th. StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, CGI currently has a consensus rating of “Buy” and an average price target of $147.25.

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.