Clearbridge Investments LLC Lowers Stake in CGI Inc. (NYSE:GIB)

Clearbridge Investments LLC decreased its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 3.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 610,547 shares of the technology company’s stock after selling 19,751 shares during the period. Clearbridge Investments LLC’s holdings in CGI were worth $66,745,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in 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 during 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 during the last quarter. Blue Trust Inc. lifted its position in CGI by 47.6% during the fourth quarter. Blue Trust Inc. now owns 1,163 shares of the technology company’s stock worth $134,000 after buying an additional 375 shares during the period. Jane Street Group LLC boosted its stake in CGI by 19.2% in the 3rd quarter. Jane Street Group LLC now owns 39,784 shares of the technology company’s stock worth $4,574,000 after buying an additional 6,403 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in CGI by 21.1% in the 3rd quarter. Wellington Management Group LLP now owns 96,516 shares of the technology company’s stock valued at $11,118,000 after buying an additional 16,844 shares during the period. Institutional investors and hedge funds own 66.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GIB shares. Jefferies Financial Group decreased 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. Royal Bank of Canada reissued an “outperform” rating and set a $192.00 price objective on shares of CGI in a research note on Wednesday, March 26th. Finally, UBS Group lifted their target price on CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $156.75.

CGI Trading Up 1.8 %

NYSE:GIB opened at $99.89 on Tuesday. The business’s 50-day moving average is $110.14 and its two-hundred day moving average is $111.40. The firm has a market capitalization of $22.65 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96. CGI Inc. has a 12 month low of $96.75 and a 12 month high of $122.79. 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 (NYSE:GIB) (TSE:GIB.A) last announced its earnings results on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, meeting the consensus estimate of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. Research analysts predict that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 14th were given a dividend of $0.1039 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.42%. CGI’s payout ratio 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.