CGI Inc. (NYSE:GIB) Shares Sold by Royal Bank of Canada

Royal Bank of Canada lowered its position in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,403,835 shares of the technology company's stock after selling 157,695 shares during the period. Royal Bank of Canada owned approximately 3.27% of CGI worth $809,388,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of GIB. Barclays PLC lifted its stake in shares of CGI by 182.6% in the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company's stock valued at $54,808,000 after purchasing an additional 308,040 shares during the period. Signal Advisors Wealth LLC increased its holdings in CGI by 4.5% in the fourth quarter. Signal Advisors Wealth LLC now owns 3,158 shares of the technology company's stock valued at $345,000 after buying an additional 135 shares in the last quarter. Avanza Fonder AB acquired a new position in shares of CGI in the fourth quarter worth about $1,453,000. Canoe Financial LP acquired a new stake in shares of CGI during the 4th quarter valued at about $94,390,000. Finally, Crossmark Global Holdings Inc. grew its position in shares of CGI by 3.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 15,492 shares of the technology company's stock valued at $1,694,000 after acquiring an additional 529 shares during the period. Institutional investors and hedge funds own 66.68% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on GIB shares. UBS Group increased their price target on CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $192.00 price objective on shares of CGI in a report on Wednesday, March 26th. Finally, Jefferies Financial Group reduced their price target on shares of CGI from $140.00 to $135.00 and set a "buy" rating for the company in a research report on Tuesday, January 21st. Two equities research 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 company. According to data from MarketBeat.com, CGI presently has an average rating of "Buy" and an average price target of $156.75.

CGI Stock Down 0.2%

CGI stock traded down $0.23 during trading on Wednesday, reaching $108.02. The stock had a trading volume of 86,204 shares, compared to its average volume of 200,876. CGI Inc. has a 52-week low of $92.85 and a 52-week high of $122.79. The business has a 50 day moving average price of $103.24 and a 200 day moving average price of $108.70. 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 stock has a market cap of $24.49 billion, a PE ratio of 19.56, a P/E/G ratio of 2.58 and a beta of 0.78.

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 (EPS) for the quarter, missing the consensus estimate 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 period in the previous year, the business posted $1.97 earnings per share. The company's revenue for the quarter was up 7.6% on a year-over-year basis. On average, analysts predict that CGI Inc. will post 5.79 EPS 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 is a positive change from CGI's previous quarterly dividend of $0.10. The ex-dividend date is Friday, May 16th. This represents a $0.43 annualized dividend and a dividend yield of 0.40%. CGI's payout ratio is 7.47%.

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.