CGI Inc. (NYSE:GIB) Shares Sold by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. cut its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 9.3% during the third quarter, Holdings Channel reports. The institutional investor owned 2,450 shares of the technology company’s stock after selling 250 shares during the period. Harvest Portfolios Group Inc.’s holdings in CGI were worth $282,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Intech Investment Management LLC acquired a new stake in CGI in the first quarter valued at $5,529,000. Henry James International Management Inc. raised its stake in CGI by 7.2% in the first quarter. Henry James International Management Inc. now owns 82,029 shares of the technology company’s stock valued at $9,063,000 after buying an additional 5,517 shares in the last quarter. Fiera Capital Corp raised its stake in CGI by 1.9% in the second quarter. Fiera Capital Corp now owns 4,269,775 shares of the technology company’s stock valued at $426,353,000 after buying an additional 79,303 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in CGI by 8.7% in the first quarter. Canada Pension Plan Investment Board now owns 692,449 shares of the technology company’s stock valued at $76,467,000 after buying an additional 55,499 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised its stake in CGI by 14.4% in the second quarter. GHP Investment Advisors Inc. now owns 41,348 shares of the technology company’s stock valued at $4,127,000 after buying an additional 5,213 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GIB. Jefferies Financial Group raised their price target on CGI from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Sanford C. Bernstein upgraded CGI to a “strong-buy” rating in a research report on Thursday, August 1st. UBS Group started coverage on CGI in a research report on Friday, July 19th. They set a “neutral” rating and a $112.00 target price on the stock. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, CIBC upgraded CGI from a “neutral” rating to an “outperformer” rating and lifted their target price for the stock from $155.00 to $178.00 in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $137.00.

CGI Stock Performance

NYSE GIB opened at $112.52 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.22. CGI Inc. has a 52-week low of $96.92 and a 52-week high of $118.89. The business’s 50-day moving average price is $113.97 and its 200 day moving average price is $107.58. The firm has a market cap of $25.64 billion, a P/E ratio of 21.27, a P/E/G ratio of 2.38 and a beta of 0.96.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, November 6th. The technology company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.03. CGI had a return on equity of 20.21% and a net margin of 11.51%. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.62 billion. On average, equities research analysts expect that CGI Inc. will post 5.54 earnings per share for the current year.

CGI Announces Dividend

The business also recently declared a — dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.111 per share. This represents a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, November 20th.

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.