CGI Inc. (NYSE:GIB) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. lessened its holdings in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 15.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,165 shares of the technology company's stock after selling 9,100 shares during the quarter. D. E. Shaw & Co. Inc.'s holdings in CGI were worth $5,267,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of CGI by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 7,942,779 shares of the technology company's stock worth $869,067,000 after buying an additional 128,285 shares during the last quarter. Bank of Montreal Can raised its position in shares of CGI by 17.3% in the fourth quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company's stock worth $419,976,000 after acquiring an additional 567,868 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in CGI by 29.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company's stock worth $327,007,000 after purchasing an additional 678,431 shares in the last quarter. Norges Bank acquired a new stake in shares of CGI in the fourth quarter valued at about $286,970,000. Finally, TD Asset Management Inc. increased its stake in CGI by 3.5% during the 4th quarter. TD Asset Management Inc. now owns 2,383,862 shares of the technology company's stock worth $260,697,000 after buying an additional 81,440 shares in the last quarter. Institutional investors own 66.68% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on GIB. UBS Group increased 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. Royal Bank of Canada restated an "outperform" rating and set a $192.00 price target on shares of CGI in a research note on Wednesday, March 26th. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $156.75.

CGI Price Performance

Shares of GIB traded down $0.70 during mid-day trading on Thursday, reaching $106.89. 37,568 shares of the company's stock were exchanged, compared to its average volume of 200,881. The company has a 50-day simple moving average of $103.34 and a two-hundred day simple moving average of $108.69. The company has a market cap of $24.24 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 2.58 and a beta of 0.78. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. CGI Inc. has a 52-week low of $92.85 and a 52-week high of $122.79.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last released its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.02). The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $4.05 billion. CGI had a return on equity of 19.32% and a net margin of 11.72%. CGI's revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.97 earnings per share. On average, sell-side analysts predict that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 16th will be given a dividend of $0.1086 per share. This represents a $0.43 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date is Friday, May 16th. This is an increase from CGI's previous quarterly dividend of $0.10. CGI's payout ratio is 7.47%.

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.