CGI Inc. (NYSE:GIB) Shares Sold by Louisbourg Investments Inc.

Louisbourg Investments Inc. cut its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 hedge funds and other institutional investors have also recently bought and sold shares of GIB. Allspring Global Investments Holdings LLC grew its stake in shares of CGI by 66.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 65,445 shares of the technology company’s stock worth $7,152,000 after purchasing an additional 26,038 shares in the last quarter. Lester Murray Antman dba SimplyRich grew its position in CGI by 1.2% in the 4th quarter. Lester Murray Antman dba SimplyRich now owns 30,397 shares of the technology company’s stock valued at $3,323,000 after buying an additional 350 shares in the last quarter. WCM Investment Management LLC increased its stake in CGI by 88.3% during the 4th quarter. WCM Investment Management LLC now owns 23,634 shares of the technology company’s stock valued at $2,583,000 after buying an additional 11,082 shares during the period. GHP Investment Advisors Inc. raised its position in shares of CGI by 3.7% during the 4th quarter. GHP Investment Advisors Inc. now owns 44,656 shares of the technology company’s stock worth $4,882,000 after buying an additional 1,591 shares in the last quarter. Finally, Haven Global Partners LLC acquired a new stake in shares of CGI in the 4th quarter worth approximately $10,711,000. 66.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $178.00 price objective on shares of CGI in a research note on Monday, January 6th. UBS Group lifted their price target on CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. CIBC upgraded CGI from a “neutral” rating to an “outperformer” rating and upped their price objective for the company from $155.00 to $178.00 in a report on Tuesday, October 15th. StockNews.com raised CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Jefferies Financial Group dropped their price target on shares of CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a research report 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 company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $153.25.

CGI Stock Performance

Shares of NYSE GIB opened at $120.85 on Wednesday. CGI Inc. has a 52-week low of $96.92 and a 52-week high of $121.55. The stock has a market capitalization of $27.40 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 2.62 and a beta of 0.94. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The stock’s fifty day simple moving average is $112.08 and its 200 day simple moving average is $112.07.

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 (EPS) 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, sell-side analysts forecast that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors 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 annualized dividend and a dividend yield of 0.34%. CGI’s dividend payout ratio (DPR) is presently 8.32%.

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.