JARISLOWSKY FRASER Ltd Lowers Stock Holdings in CGI Inc. (NYSE:GIB)

JARISLOWSKY FRASER Ltd cut its stake in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 4.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,341,175 shares of the technology company's stock after selling 181,606 shares during the period. CGI makes up about 2.8% of JARISLOWSKY FRASER Ltd's holdings, making the stock its 11th largest holding. JARISLOWSKY FRASER Ltd owned approximately 1.91% of CGI worth $473,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in GIB. Barclays PLC lifted its stake in CGI by 182.6% during the third 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 in the last quarter. Blue Trust Inc. lifted its stake in 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 purchasing an additional 375 shares in the last quarter. KFA Private Wealth Group LLC lifted its stake in 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 purchasing an additional 6,760 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in 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 purchasing an additional 1,409 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of CGI in the fourth quarter valued at $925,000. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

CGI Stock Performance

Shares of GIB traded up $0.37 during midday trading on Friday, reaching $108.28. 212,292 shares of the stock were exchanged, compared to its average volume of 200,971. The business's 50-day moving average price is $102.92 and its 200 day moving average price is $108.81. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.04. CGI Inc. has a twelve month low of $92.85 and a twelve month high of $122.79. The company has a market capitalization of $24.55 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 2.58 and a beta of 0.78.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last posted its earnings results on Wednesday, April 30th. The technology company reported $1.48 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 firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter last year, the firm posted $1.97 EPS. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. On average, sell-side analysts expect that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 16th will be issued a dividend of $0.1086 per share. The ex-dividend date is Friday, May 16th. This represents a $0.43 dividend on an annualized basis 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 (DPR) is currently 7.47%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GIB shares. Jefferies Financial Group decreased their target price on CGI from $140.00 to $135.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. Royal Bank of Canada reissued an "outperform" rating and issued a $192.00 price objective on shares of CGI in a research report on Wednesday, March 26th. Finally, UBS Group increased their price objective on shares of CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Two equities research 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target 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.