D. E. Shaw & Co. Inc. trimmed its position in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 15.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,165 shares of the technology company's stock after selling 9,100 shares during the period. D. E. Shaw & Co. Inc.'s holdings in CGI were worth $5,267,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of GIB. Sierra Ocean LLC acquired a new position in CGI in the fourth quarter valued at approximately $62,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in CGI in the fourth quarter valued at approximately $83,000. Hoey Investments Inc. acquired a new position in CGI in the fourth quarter valued at approximately $99,000. Blue Trust Inc. boosted its stake in CGI by 47.6% in the fourth quarter. Blue Trust Inc. now owns 1,163 shares of the technology company's stock valued at $134,000 after acquiring an additional 375 shares during the period. Finally, GeoWealth Management LLC boosted its stake in CGI by 80.4% in the fourth quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company's stock valued at $142,000 after acquiring an additional 579 shares during the period. 66.68% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on GIB shares. Jefferies Financial Group reduced their price target on shares of CGI from $140.00 to $135.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. UBS Group boosted their price target on shares of CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $192.00 price objective on shares of CGI in a research report on Wednesday, March 26th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, CGI currently has a consensus rating of "Buy" and a consensus price target of $156.75.
Read Our Latest Stock Report on GIB
CGI Price Performance
Shares of NYSE:GIB traded up $0.16 during trading on Tuesday, reaching $108.24. The company had a trading volume of 176,961 shares, compared to its average volume of 200,781. The firm's fifty day moving average is $103.09 and its 200 day moving average is $108.70. 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 firm has a market capitalization of $24.54 billion, a PE ratio of 19.57, a price-to-earnings-growth ratio of 2.58 and a beta of 0.78. CGI Inc. has a twelve month low of $92.85 and a twelve month high of $122.79.
CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last posted its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.02). CGI had a net margin of 11.72% and a return on equity of 19.32%. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter last year, the business posted $1.97 EPS. The business's revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities analysts forecast that CGI Inc. will post 5.79 EPS for the current year.
CGI Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.1086 per share. The ex-dividend date of this dividend is Friday, May 16th. This is a positive change from CGI's previous quarterly dividend of $0.10. This represents a $0.43 annualized dividend and a dividend yield of 0.40%. CGI's dividend payout ratio (DPR) is currently 7.47%.
CGI Profile
(
Free Report)
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.
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