Employees Retirement System of Texas Trims Holdings in CGI Inc. (NYSE:GIB)

Employees Retirement System of Texas lessened its position in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 86.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 375 shares of the technology company's stock after selling 2,487 shares during the quarter. Employees Retirement System of Texas' holdings in CGI were worth $41,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Metis Global Partners LLC boosted its holdings in 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 acquiring an additional 108 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of CGI by 0.4% during the fourth 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 during the period. Ameriprise Financial Inc. boosted its stake in shares of CGI by 0.9% during the fourth 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 during the period. Manhattan West Asset Management LLC grew its holdings in shares of CGI by 0.5% in the fourth quarter. Manhattan West Asset Management LLC now owns 25,425 shares of the technology company's stock worth $2,779,000 after purchasing an additional 126 shares during the last quarter. Finally, Tidal Investments LLC grew its holdings in CGI by 10.4% in the 4th quarter. Tidal Investments LLC now owns 3,337 shares of the technology company's stock worth $365,000 after acquiring an additional 315 shares during the last quarter. Hedge funds and other institutional investors own 66.68% of the company's stock.

Analyst Ratings Changes

GIB has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $192.00 price objective on shares of CGI in a research note on Wednesday, March 26th. UBS Group upped their price target on CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Two investment 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's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $156.75.

CGI Trading Down 0.1%

NYSE GIB traded down $0.06 during trading on Friday, hitting $107.58. The company had a trading volume of 212,269 shares, compared to its average volume of 201,448. The company's fifty day moving average is $104.13 and its 200-day moving average is $108.45. CGI Inc. has a one year low of $92.85 and a one year high of $122.79. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28. The company has a market cap of $24.39 billion, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 2.58 and a beta of 0.78.

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 analysts' consensus estimates of $1.50 by ($0.02). CGI had a return on equity of 19.32% and a net margin of 11.72%. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the previous year, the company earned $1.97 earnings per share. CGI's quarterly revenue was up 7.6% on a year-over-year basis. On average, sell-side analysts predict 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. Stockholders of record on Friday, May 16th will be given a $0.1086 dividend. The ex-dividend date is Friday, May 16th. This represents a $0.43 annualized dividend and a dividend yield of 0.40%. This is a positive change from CGI's previous quarterly dividend of $0.10. CGI's dividend payout ratio is currently 7.47%.

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.