New South Capital Management Inc. Has $66.54 Million Stock Holdings in CGI Inc. (NYSE:GIB)

New South Capital Management Inc. lessened its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 608,631 shares of the technology company’s stock after selling 10,285 shares during the quarter. CGI comprises 2.8% of New South Capital Management Inc.’s holdings, making the stock its 9th biggest position. New South Capital Management Inc.’s holdings in CGI were worth $66,536,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of CGI by 1.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,290,487 shares of the technology company’s stock worth $1,876,550,000 after acquiring an additional 230,000 shares in the last quarter. National Bank of Canada FI grew its position in CGI by 23.6% during 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 purchasing an additional 861,771 shares during the last quarter. Fiera Capital Corp grew its position in CGI by 2.7% during the 3rd quarter. Fiera Capital Corp now owns 4,384,639 shares of the technology company’s stock worth $505,173,000 after purchasing an additional 114,864 shares during the last quarter. Bank of Montreal Can grew its position in CGI by 3.3% during the 3rd quarter. Bank of Montreal Can now owns 3,275,421 shares of the technology company’s stock worth $373,887,000 after purchasing an additional 104,300 shares during the last quarter. Finally, Cibc World Market Inc. grew its position in CGI by 2.1% during the 4th quarter. Cibc World Market Inc. now owns 1,978,249 shares of the technology company’s stock worth $216,369,000 after purchasing an additional 40,492 shares during the last quarter. Institutional investors own 66.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on GIB. Royal Bank of Canada reissued an “outperform” rating and set a $178.00 target price on shares of CGI in a research report on Monday, January 6th. Jefferies Financial Group dropped their target price on shares of CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. UBS Group boosted their target price 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. Finally, StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $153.25.

CGI Stock Up 1.1 %

GIB stock opened at $103.84 on Thursday. The firm’s fifty day simple moving average is $112.71 and its 200-day simple moving average is $112.65. The company has a market capitalization of $23.54 billion, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 2.58 and a beta of 0.94. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.04. CGI Inc. has a 12 month low of $96.92 and a 12 month high of $122.79.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, meeting the consensus estimate of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. As a group, equities research analysts forecast that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 14th will be issued a $0.1039 dividend. This represents a $0.42 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is 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.