CGI Inc. (NYSE:GIB) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd trimmed its holdings in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,249 shares of the technology company's stock after selling 2,438 shares during the period. USS Investment Management Ltd's holdings in CGI were worth $3,420,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC lifted its stake in CGI by 182.6% during the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company's stock valued at $54,808,000 after acquiring an additional 308,040 shares during the period. Blue Trust Inc. grew its holdings 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. KFA Private Wealth Group LLC grew its holdings in shares of CGI by 120.9% during the fourth quarter. KFA Private Wealth Group LLC now owns 12,350 shares of the technology company's stock worth $1,350,000 after buying an additional 6,760 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of CGI by 0.5% during the fourth quarter. Bank of New York Mellon Corp now owns 289,654 shares of the technology company's stock worth $31,665,000 after buying an additional 1,409 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of CGI by 64.4% in the fourth quarter. Northern Trust Corp now owns 194,481 shares of the technology company's stock valued at $21,261,000 after purchasing an additional 76,175 shares during the period. 66.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GIB. UBS Group upped their price objective on shares of 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 reaffirmed an "outperform" rating and issued a $192.00 target price 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 MarketBeat.com, CGI presently has a consensus rating of "Buy" and an average price target of $156.75.

CGI Stock Performance

Shares of GIB traded up $0.38 during mid-day trading on Thursday, reaching $107.48. 46,742 shares of the company's stock were exchanged, compared to its average volume of 201,109. 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 stock has a market capitalization of $24.37 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 2.58 and a beta of 0.78. The business's fifty day simple moving average is $103.85 and its 200-day simple moving average is $108.51. 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 announced its 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 business had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $4.05 billion. During the same quarter last year, the business posted $1.97 earnings per share. The business's revenue was up 7.6% on a year-over-year basis. On average, equities research analysts expect that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.1086 per share. This represents a $0.43 annualized dividend and a dividend yield of 0.40%. 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.