Walter Public Investments Inc. Trims Stake in CGI Inc. (NYSE:GIB)

Walter Public Investments Inc. cut its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 17.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 187,222 shares of the technology company’s stock after selling 40,574 shares during the quarter. CGI makes up about 3.7% of Walter Public Investments Inc.’s investment portfolio, making the stock its 8th largest position. Walter Public Investments Inc. owned 0.08% of CGI worth $20,472,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of GIB. Canoe Financial LP bought a new position in shares of CGI during the 4th quarter valued at about $94,390,000. National Bank of Canada FI increased its position in shares of CGI by 23.6% during the 3rd quarter. National Bank of Canada FI now owns 4,513,733 shares of the technology company’s stock valued at $519,072,000 after purchasing an additional 861,771 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased 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 valued at $157,485,000 after purchasing an additional 555,017 shares during the last quarter. Barclays PLC increased 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 valued at $54,808,000 after purchasing an additional 308,040 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in shares of CGI by 1.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,290,487 shares of the technology company’s stock valued at $1,876,550,000 after purchasing an additional 230,000 shares during the last quarter. 66.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GIB shares. UBS Group increased their price objective on CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and set a $178.00 price target on shares of CGI in a research report on Monday, January 6th. Jefferies Financial Group reduced their price target on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Finally, StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Two 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. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $153.25.

CGI Price Performance

GIB opened at $111.94 on Thursday. The firm has a market cap of $25.38 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 2.58 and a beta of 0.94. CGI Inc. has a 1 year low of $96.92 and a 1 year high of $122.79. The stock’s 50 day simple moving average is $113.20 and its 200 day simple moving average is $112.75. 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 (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. As a group, analysts predict that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 14th will be given a $0.1039 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.37%. CGI’s dividend payout ratio is currently 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.