Cidel Asset Management Inc. Sells 217 Shares of CGI Inc. (NYSE:GIB)

Cidel Asset Management Inc. cut its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 0.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 302,347 shares of the technology company’s stock after selling 217 shares during the period. CGI comprises about 2.2% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 13th largest position. Cidel Asset Management Inc. owned about 0.13% of CGI worth $33,064,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec boosted its holdings in 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 in the last quarter. National Bank of Canada FI boosted its stake 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 valued at $519,072,000 after buying an additional 861,771 shares in the last quarter. Fiera Capital Corp grew its position in CGI by 2.7% in the third quarter. Fiera Capital Corp now owns 4,384,639 shares of the technology company’s stock valued at $505,173,000 after acquiring an additional 114,864 shares during the period. Bank of Montreal Can grew its position in CGI by 3.3% in the third quarter. Bank of Montreal Can now owns 3,275,421 shares of the technology company’s stock valued at $373,887,000 after acquiring an additional 104,300 shares during the period. Finally, Cibc World Market Inc. raised its stake in CGI by 2.1% during the fourth quarter. Cibc World Market Inc. now owns 1,978,249 shares of the technology company’s stock worth $216,369,000 after acquiring an additional 40,492 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GIB. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $178.00 target price on shares of CGI in a report on Monday, January 6th. Cibc World Mkts raised shares of CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and raised their price objective for the stock from $155.00 to $178.00 in a report on Tuesday, October 15th. StockNews.com raised CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Finally, UBS Group raised 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 assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $153.25.

CGI Stock Performance

Shares of CGI stock opened at $119.16 on Friday. The firm has a fifty day moving average of $111.60 and a two-hundred day moving average of $111.75. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31. The stock has a market capitalization of $27.02 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 2.59 and a beta of 0.94. CGI Inc. has a 52 week low of $96.92 and a 52 week high of $121.55.

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 analysts’ consensus estimates of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. As a group, equities research analysts predict that CGI Inc. will post 5.79 EPS for the current year.

CGI Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 14th will be given a $0.1039 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.35%. CGI’s dividend payout ratio is 8.32%.

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.