OMERS ADMINISTRATION Corp Sells 6,800 Shares of CGI Inc. (NYSE:GIB)

OMERS ADMINISTRATION Corp cut its position in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 39.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Barclays PLC boosted its holdings in CGI by 182.6% in the third quarter. Barclays PLC now owns 476,758 shares of the technology company's stock worth $54,808,000 after acquiring an additional 308,040 shares in the last quarter. Avanza Fonder AB acquired a new position in shares of CGI during the fourth quarter worth approximately $1,453,000. Canoe Financial LP bought a new position in shares of CGI in the 4th quarter worth $94,390,000. Crossmark Global Holdings Inc. lifted its holdings in shares of CGI by 3.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 15,492 shares of the technology company's stock worth $1,694,000 after purchasing an additional 529 shares in the last quarter. Finally, Blue Trust Inc. grew its position in CGI by 47.6% in the 4th quarter. Blue Trust Inc. now owns 1,163 shares of the technology company's stock valued at $134,000 after purchasing an additional 375 shares during the period. 66.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GIB has been the topic of a number of recent research reports. UBS Group raised their price objective 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. Royal Bank of Canada restated an "outperform" rating and issued a $192.00 target price on shares of CGI in a report on Wednesday, March 26th. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, CGI currently has an average rating of "Buy" and an average price target of $156.75.

CGI Stock Down 0.7%

NYSE GIB traded down $0.75 on Thursday, reaching $106.84. The company had a trading volume of 50,923 shares, compared to its average volume of 200,910. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The company's fifty day moving average is $103.34 and its 200 day moving average is $108.69. CGI Inc. has a 52-week low of $92.85 and a 52-week high of $122.79. The stock has a market capitalization of $24.22 billion, a P/E ratio of 19.32, a P/E/G ratio of 2.58 and a beta of 0.78.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its earnings results on Wednesday, April 30th. The technology company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.02). CGI had a net margin of 11.72% and a return on equity of 19.32%. The firm had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $4.05 billion. During the same quarter in the prior year, the company earned $1.97 EPS. The business's revenue for the quarter was up 7.6% on a year-over-year basis. Sell-side analysts anticipate that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Increases Dividend

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

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.