CGI Inc. (NYSE:GIB) Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp lowered its stake in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 39.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,500 shares of the technology company's stock after selling 6,800 shares during the period. OMERS ADMINISTRATION Corp's holdings in CGI were worth $1,148,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of GIB. Sierra Ocean LLC acquired a new position in CGI in the 4th quarter valued at $62,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of CGI during the 4th quarter valued at $83,000. Hoey Investments Inc. purchased a new position in CGI during the fourth quarter worth about $99,000. Blue Trust Inc. increased its position in shares of 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 acquiring an additional 375 shares during the period. Finally, GeoWealth Management LLC raised its position in shares of CGI by 80.4% in the 4th quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company's stock worth $142,000 after acquiring an additional 579 shares in the last quarter. Institutional investors own 66.68% of the company's stock.

CGI Stock Performance

NYSE:GIB traded up $0.16 during mid-day trading on Tuesday, hitting $108.24. The company's stock had a trading volume of 176,961 shares, compared to its average volume of 200,781. The business's fifty day moving average is $103.09 and its two-hundred day moving average is $108.70. 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 $24.54 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 2.58 and a beta of 0.78. 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 (NYSE:GIB - Get Free Report) TSE: GIB.A last posted its quarterly earnings data 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). CGI had a return on equity of 19.32% and a net margin of 11.72%. The company had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $4.05 billion. During the same period in the previous year, the business posted $1.97 EPS. The business's revenue for the quarter was up 7.6% on a year-over-year basis. Analysts anticipate 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 paid a dividend of $0.1086 per share. This is a positive change from CGI's previous quarterly dividend of $0.10. This represents a $0.43 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Friday, May 16th. CGI's dividend payout ratio (DPR) is currently 7.47%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada restated an "outperform" rating and issued a $192.00 price target on shares of CGI in a research note on Wednesday, March 26th. UBS Group boosted their price target on CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Finally, Jefferies Financial Group reduced their price objective on shares of CGI from $140.00 to $135.00 and set a "buy" rating for the company in a research note on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $156.75.

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.