Intact Investment Management Inc. Sells 103,500 Shares of CGI Inc. (NYSE:GIB)

Intact Investment Management Inc. cut its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 73.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,605 shares of the technology company’s stock after selling 103,500 shares during the period. Intact Investment Management Inc.’s holdings in CGI were worth $4,114,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in shares of CGI by 8.6% in the 3rd quarter. Geode Capital Management LLC now owns 998,470 shares of the technology company’s stock worth $115,844,000 after acquiring an additional 79,362 shares in the last quarter. Barclays PLC increased its position in CGI by 182.6% during the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock valued at $54,808,000 after buying an additional 308,040 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in CGI by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 560,159 shares of the technology company’s stock valued at $64,518,000 after buying an additional 21,427 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in CGI during the 3rd quarter valued at about $825,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in CGI by 68.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock valued at $157,485,000 after buying an additional 555,017 shares in the last quarter. 66.68% of the stock is owned by institutional investors.

CGI Stock Up 2.6 %

CGI stock opened at $103.09 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31. The business’s 50-day simple moving average is $111.85 and its two-hundred day simple moving average is $112.34. The company has a market cap of $23.37 billion, a PE ratio of 18.64, a PEG ratio of 2.58 and a beta of 0.96. CGI Inc. has a fifty-two week low of $96.92 and a fifty-two week high of $122.79.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share for the quarter, meeting the consensus estimate of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. Equities analysts anticipate that CGI Inc. will post 5.79 EPS for the current year.

CGI Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 14th will be paid a $0.1039 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.40%. CGI’s payout ratio is 7.41%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GIB. Jefferies Financial Group reduced their target price on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. StockNews.com raised CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. UBS Group upped their target price on CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $178.00 target price on shares of CGI in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CGI currently has a consensus rating of “Buy” and an average target price of $153.25.

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.