QV Investors Inc. Trims Stock Position in CGI Inc. (NYSE:GIB)

QV Investors Inc. cut its stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 0.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 537,746 shares of the technology company’s stock after selling 130 shares during the period. CGI accounts for 6.1% of QV Investors Inc.’s investment portfolio, making the stock its 3rd largest holding. QV Investors Inc.’s holdings in CGI were worth $58,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of CGI by 8.6% in the 3rd quarter. Geode Capital Management LLC now owns 998,470 shares of the technology company’s stock valued at $115,844,000 after acquiring an additional 79,362 shares in the last quarter. Barclays PLC increased its stake in CGI by 182.6% in the third 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 in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of CGI by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 560,159 shares of the technology company’s stock valued at $64,518,000 after purchasing an additional 21,427 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in shares of CGI during the 3rd quarter worth about $825,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of CGI by 68.2% in 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 buying an additional 555,017 shares during the period. Institutional investors own 66.68% of the company’s stock.

CGI Stock Up 0.1 %

Shares of GIB traded up $0.11 during trading hours on Monday, reaching $107.83. 85,580 shares of the stock traded hands, compared to its average volume of 142,730. CGI Inc. has a 52 week low of $96.92 and a 52 week high of $118.89. The company has a market cap of $24.57 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 2.55 and a beta of 0.95. The stock has a fifty day simple moving average of $110.88 and a 200 day simple moving average of $110.54. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29.

CGI Announces Dividend

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

Analysts Set New Price Targets

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

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.