Rempart Asset Management Inc. Cuts Stake in CGI Inc. (NYSE:GIB)

Rempart Asset Management Inc. cut its holdings in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 2.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 183,260 shares of the technology company's stock after selling 5,020 shares during the period. CGI accounts for about 3.8% of Rempart Asset Management Inc.'s portfolio, making the stock its 18th largest holding. Rempart Asset Management Inc. owned approximately 0.08% of CGI worth $18,303,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GIB. Barclays PLC grew its holdings in shares of CGI by 182.6% during the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company's stock worth $54,808,000 after purchasing an additional 308,040 shares during the period. Blue Trust Inc. lifted its position 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 buying an additional 375 shares during the last quarter. Forsta AP Fonden boosted its stake in CGI by 2.4% during the fourth quarter. Forsta AP Fonden now owns 47,600 shares of the technology company's stock worth $5,205,000 after buying an additional 1,100 shares during the period. Cibc World Market Inc. increased its position in shares of CGI by 2.1% during the fourth quarter. Cibc World Market Inc. now owns 1,978,249 shares of the technology company's stock valued at $216,369,000 after acquiring an additional 40,492 shares during the last quarter. Finally, Haven Global Partners LLC purchased a new stake in shares of CGI in the 4th quarter valued at approximately $10,711,000. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

CGI Stock Performance

Shares of NYSE GIB traded down $0.06 during trading hours on Friday, reaching $107.58. The stock had a trading volume of 212,269 shares, compared to its average volume of 201,448. The firm has a 50-day moving average of $104.13 and a 200-day moving average of $108.45. The firm has a market cap of $24.39 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 2.58 and a beta of 0.78. 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 Inc. has a fifty-two week low of $92.85 and a fifty-two week high of $122.79.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.50 by ($0.02). The business 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%. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.97 EPS. Equities research analysts predict that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 16th will be paid a $0.1086 dividend. This is an increase from CGI's previous quarterly dividend of $0.10. This represents a $0.43 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, May 16th. CGI's dividend payout ratio (DPR) is 7.47%.

Analysts Set New Price Targets

A number of research firms have commented on GIB. 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. UBS Group increased their target price on CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $156.75.

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.