Millennium Management LLC Sells 15,258 Shares of CGI Inc. (NYSE:GIB)

Millennium Management LLC cut its stake in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 62.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 9,193 shares of the technology company's stock after selling 15,258 shares during the period. Millennium Management LLC's holdings in CGI were worth $1,005,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sierra Ocean LLC acquired a new position in shares of CGI in the fourth quarter worth about $62,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of CGI in the 4th quarter valued at approximately $83,000. Hoey Investments Inc. purchased a new position in shares of CGI during the 4th quarter valued at approximately $99,000. Blue Trust Inc. grew its position in shares of CGI by 47.6% during the fourth quarter. Blue Trust Inc. now owns 1,163 shares of the technology company's stock worth $134,000 after buying an additional 375 shares in the last quarter. Finally, GeoWealth Management LLC grew its position in shares of CGI by 80.4% during the fourth quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company's stock worth $142,000 after buying an additional 579 shares in the last quarter. Hedge funds and other institutional investors own 66.68% of the company's stock.

CGI Price Performance

GIB stock traded up $0.26 during trading on Monday, hitting $108.10. The company had a trading volume of 199,710 shares, compared to its average volume of 202,989. The business has a 50 day moving average of $104.90 and a 200 day moving average of $108.35. CGI Inc. has a fifty-two week low of $92.85 and a fifty-two week high of $122.79. The firm has a market capitalization of $24.51 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 2.58 and a beta of 0.77. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its quarterly earnings data 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 business had revenue of $2.80 billion during 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%. The business's revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.97 EPS. As a group, research analysts predict that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Increases Dividend

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

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reaffirmed an "outperform" rating and set a $192.00 price target 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 given a strong buy rating to the company. According to data from MarketBeat.com, CGI presently has a consensus rating of "Buy" and an average target price of $156.75.

About CGI

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.