Beutel Goodman & Co Ltd. Decreases Stock Holdings in CGI Inc. (NYSE:GIB)

Beutel Goodman & Co Ltd. decreased its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 9.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,422,615 shares of the technology company’s stock after selling 367,916 shares during the quarter. CGI comprises approximately 2.0% of Beutel Goodman & Co Ltd.’s holdings, making the stock its 17th biggest holding. Beutel Goodman & Co Ltd. owned approximately 1.51% of CGI worth $374,293,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of CGI during the fourth quarter worth about $286,970,000. Canoe Financial LP acquired a new position in CGI during the 4th quarter worth approximately $94,390,000. National Bank of Canada FI boosted its holdings in CGI by 23.6% in the 3rd quarter. National Bank of Canada FI now owns 4,513,733 shares of the technology company’s stock worth $519,072,000 after acquiring an additional 861,771 shares during the period. Barclays PLC grew its position 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 acquiring an additional 308,040 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in shares of CGI by 1.4% during the third 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 period. 66.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GIB has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered their price target on shares of CGI from $140.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $192.00 price target on shares of CGI in a research note on Wednesday. Finally, UBS Group increased their price target on CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a 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 given a strong buy rating to the company. According to data from MarketBeat, CGI presently has a consensus rating of “Buy” and an average target price of $156.75.

CGI Trading Down 1.2 %

Shares of NYSE GIB opened at $98.09 on Friday. 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 50 day moving average price is $110.31 and its two-hundred day moving average price is $111.55. CGI Inc. has a 52-week low of $96.92 and a 52-week high of $122.79. The stock has a market capitalization of $22.24 billion, a P/E ratio of 17.74, a PEG ratio of 2.58 and a beta of 0.96.

CGI (NYSE:GIB) (TSE:GIB.A) last issued 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%. On average, analysts anticipate that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 14th were given a $0.1039 dividend. This represents a $0.42 annualized dividend and a yield of 0.42%. The ex-dividend date was Friday, February 14th. CGI’s dividend payout ratio is presently 7.41%.

About CGI

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.