CGI Inc. (NYSE:GIB) Position Trimmed by Louisbourg Investments Inc.

Louisbourg Investments Inc. decreased its position in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 15.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 17,476 shares of the technology company's stock after selling 3,151 shares during the period. Louisbourg Investments Inc.'s holdings in CGI were worth $1,746,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Affirmative Financial Network raised its holdings in shares of CGI by 3.8% during the 1st quarter. First Affirmative Financial Network now owns 2,905 shares of the technology company's stock valued at $290,000 after purchasing an additional 106 shares in the last quarter. Metis Global Partners LLC raised its holdings in shares of CGI by 1.0% during the 4th quarter. Metis Global Partners LLC now owns 10,534 shares of the technology company's stock valued at $1,153,000 after purchasing an additional 108 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of CGI by 0.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 31,209 shares of the technology company's stock valued at $3,412,000 after purchasing an additional 111 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of CGI by 0.9% during the 4th quarter. Ameriprise Financial Inc. now owns 12,619 shares of the technology company's stock valued at $1,380,000 after purchasing an additional 115 shares in the last quarter. Finally, Manhattan West Asset Management LLC raised its holdings in shares of CGI by 0.5% during the 4th quarter. Manhattan West Asset Management LLC now owns 25,425 shares of the technology company's stock valued at $2,779,000 after purchasing an additional 126 shares in the last quarter. Institutional investors and hedge funds own 66.68% of the company's stock.

CGI Stock Performance

Shares of GIB opened at $108.93 on Tuesday. The company has a market capitalization of $24.44 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 2.58 and a beta of 0.77. CGI Inc. has a one year low of $92.85 and a one year 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. The company's fifty day moving average price is $106.19 and its 200 day moving average price is $108.20.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its earnings results on Wednesday, April 30th. The technology company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.02). The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $4.05 billion. CGI had a return on equity of 19.32% and a net margin of 11.72%. The business's revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.97 EPS. As a group, analysts expect that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 16th will be issued a $0.1086 dividend. This represents a $0.43 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Friday, May 16th. This is an increase from CGI's previous quarterly dividend of $0.10. CGI's dividend payout ratio (DPR) is 7.83%.

Analysts Set New Price Targets

Separately, Royal Bank of Canada restated an "outperform" rating and set a $192.00 price target on shares of CGI in a report on Wednesday, March 26th. Two 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 company's stock. Based on data from MarketBeat, CGI currently has an average rating of "Buy" and an average price target of $156.75.

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.

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