Farther Finance Advisors LLC Sells 665 Shares of CGI Inc. (NYSE:GIB)

Farther Finance Advisors LLC decreased its stake in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 7.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,603 shares of the technology company’s stock after selling 665 shares during the period. Farther Finance Advisors LLC’s holdings in CGI were worth $940,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of CGI during the 3rd quarter valued at about $28,000. Sierra Ocean LLC bought a new stake in shares of CGI during the 4th quarter valued at about $62,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of CGI during the 4th quarter valued at about $83,000. Blue Trust Inc. boosted its stake in shares of CGI by 47.6% during the 4th quarter. Blue Trust Inc. now owns 1,163 shares of the technology company’s stock valued at $134,000 after purchasing an additional 375 shares in the last quarter. Finally, Olympiad Research LP bought a new stake in shares of CGI during the 4th quarter valued at about $203,000. Institutional investors own 66.68% of the company’s stock.

Wall Street Analysts Forecast Growth

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

CGI Trading Up 2.6 %

Shares of NYSE GIB opened at $103.09 on Friday. The firm’s 50 day moving average price is $111.85 and its 200-day moving average price is $112.34. The company has a market cap of $23.37 billion, a PE ratio of 18.64, a P/E/G ratio of 2.58 and a beta of 0.96. CGI Inc. has a 52-week low of $96.92 and a 52-week high of $122.79. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its earnings results 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 net margin of 11.72% and a return on equity of 19.32%. On average, equities research analysts expect that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 14th will be paid a $0.1039 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.42 annualized dividend and a dividend yield of 0.40%. CGI’s dividend payout ratio is presently 7.41%.

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.