CGI Inc. (NYSE:GIB) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 179,856 shares of the technology company’s stock after selling 5,718 shares during the quarter. Russell Investments Group Ltd. owned 0.08% of CGI worth $19,663,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in CGI during the 4th quarter valued at $286,970,000. Canoe Financial LP acquired a new position in shares of CGI in the 4th quarter worth $94,390,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of CGI by 29.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company’s stock worth $327,007,000 after acquiring an additional 678,431 shares during the last quarter. Barclays PLC grew its holdings in shares of CGI by 182.6% in the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock worth $54,808,000 after acquiring an additional 308,040 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of CGI by 27.5% during the fourth quarter. Geode Capital Management LLC now owns 1,272,840 shares of the technology company’s stock valued at $140,266,000 after buying an additional 274,370 shares in the last quarter. Institutional investors and hedge funds own 66.68% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GIB. Royal Bank of Canada reiterated an “outperform” rating and set a $192.00 price target on shares of CGI in a report on Wednesday, March 26th. Jefferies Financial Group reduced their price target on 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 boosted their price target on CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $156.75.

CGI Trading Up 5.5 %

GIB stock opened at $101.80 on Thursday. CGI Inc. has a 1-year low of $92.85 and a 1-year high of $122.79. The firm has a market cap of $23.08 billion, a P/E ratio of 18.41, a P/E/G ratio of 2.58 and a beta of 0.85. The business’s 50 day moving average is $107.50 and its 200-day moving average is $110.50. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 EPS 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%. Equities analysts anticipate that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 14th were paid a $0.1039 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Friday, February 14th. CGI’s dividend payout ratio (DPR) 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.