JARISLOWSKY FRASER Ltd Has $473.20 Million Stock Holdings in CGI Inc. (NYSE:GIB)

JARISLOWSKY FRASER Ltd trimmed its position in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,341,175 shares of the technology company's stock after selling 181,606 shares during the quarter. CGI makes up 2.8% of JARISLOWSKY FRASER Ltd's portfolio, making the stock its 11th biggest position. JARISLOWSKY FRASER Ltd owned 1.91% of CGI worth $473,204,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GIB. Barclays PLC grew its position 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 buying an additional 308,040 shares during the period. Blue Trust Inc. grew its holdings in CGI by 47.6% during the 4th quarter. Blue Trust Inc. now owns 1,163 shares of the technology company's stock worth $134,000 after acquiring an additional 375 shares during the period. KFA Private Wealth Group LLC grew its holdings in CGI by 120.9% during the 4th quarter. KFA Private Wealth Group LLC now owns 12,350 shares of the technology company's stock worth $1,350,000 after acquiring an additional 6,760 shares during the period. Bank of New York Mellon Corp raised its position in shares of CGI by 0.5% during the 4th quarter. Bank of New York Mellon Corp now owns 289,654 shares of the technology company's stock valued at $31,665,000 after acquiring an additional 1,409 shares during the last quarter. Finally, Sierra Ocean LLC acquired a new position in shares of CGI in the 4th quarter valued at $62,000. 66.68% of the stock is owned by institutional investors.

CGI Stock Down 0.3 %

GIB opened at $105.87 on Friday. The stock's fifty day simple moving average is $102.65 and its 200 day simple moving average is $108.94. CGI Inc. has a 1-year low of $92.85 and a 1-year high of $122.79. The stock has a market cap of $24.00 billion, a PE ratio of 19.14, a price-to-earnings-growth 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 (NYSE:GIB - Get Free Report) TSE: GIB.A last issued its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.02). The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $4.05 billion. CGI had a net margin of 11.72% and a return on equity of 19.32%. CGI's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.97 earnings per share. As a group, research analysts expect that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 16th will be given a dividend of $0.1086 per share. The ex-dividend date of this dividend is Friday, May 16th. This is an increase from CGI's previous quarterly dividend of $0.10. This represents a $0.43 annualized dividend and a yield of 0.41%. CGI's dividend payout ratio (DPR) is 7.47%.

Analyst Ratings Changes

A number of analysts recently weighed in on GIB shares. Jefferies Financial Group cut their price target on shares of CGI from $140.00 to $135.00 and set a "buy" rating on the stock in a research report on Tuesday, January 21st. UBS Group upped their target price on shares of CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $192.00 price target on shares of CGI in a research report on Wednesday, March 26th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average 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.

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