Tobam Sells 1,918 Shares of CGI Inc. (NYSE:GIB)

Tobam decreased its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 62.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,148 shares of the technology company’s stock after selling 1,918 shares during the period. Tobam’s holdings in CGI were worth $125,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GIB. Wilmington Savings Fund Society FSB bought a new position in CGI during the third quarter worth about $28,000. Blue Trust Inc. grew its position in shares of CGI by 288.2% during 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 in the last quarter. CWM LLC increased its holdings in shares of CGI by 14.8% during the third 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 period. Werba Rubin Papier Wealth Management bought a new stake in shares of CGI in the third quarter valued at approximately $208,000. Finally, Thrivent Financial for Lutherans acquired a new stake in CGI during the third quarter worth approximately $209,000. Institutional investors and hedge funds own 66.68% of the company’s stock.

CGI Trading Down 0.0 %

GIB opened at $119.16 on Friday. The company has a market cap of $27.02 billion, a P/E ratio of 21.55, a PEG ratio of 2.59 and a beta of 0.94. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28. The company’s 50 day moving average is $111.60 and its 200-day moving average is $111.75. CGI Inc. has a 1-year low of $96.92 and a 1-year high of $121.55.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its earnings results 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 net margin of 11.72% and a return on equity of 19.32%. Equities research analysts predict that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders 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 annualized dividend and a yield of 0.35%. CGI’s dividend payout ratio is presently 8.32%.

Wall Street Analyst Weigh In

GIB has been the subject of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $178.00 price objective on shares of CGI in a report on Monday, January 6th. Cibc World Mkts raised shares of CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. StockNews.com upgraded shares of CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Jefferies Financial Group dropped their target price on shares of CGI from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Finally, UBS Group increased their price target on shares of CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently 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.