CGI (NYSE:GIB) Trading Down 5.1% – Here’s What Happened

CGI Inc. (NYSE:GIB) (TSE:GIB.A) traded down 5.1% during mid-day trading on Thursday . The company traded as low as $98.46 and last traded at $98.23. 86,333 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 175,870 shares. The stock had previously closed at $103.52.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $178.00 price objective on shares of CGI in a report on Monday, January 6th. Jefferies Financial Group decreased 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. Finally, UBS Group raised 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. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, CGI presently has an average rating of “Buy” and a consensus price target of $153.25.

CGI Trading Up 0.1 %

The stock has a market cap of $22.40 billion, a P/E ratio of 17.87, a P/E/G ratio of 2.58 and a beta of 0.96. 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 stock’s fifty day moving average is $111.15 and its 200 day moving average is $111.99.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 earnings per share (EPS) 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%. As a group, equities research analysts predict that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Announces Dividend

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

Hedge Funds Weigh In On CGI

A number of large investors have recently made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec raised its position in CGI by 1.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,290,487 shares of the technology company’s stock worth $1,876,550,000 after purchasing an additional 230,000 shares during the period. Vanguard Group Inc. raised its holdings in shares of CGI by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 7,942,779 shares of the technology company’s stock worth $869,067,000 after buying an additional 128,285 shares during the period. National Bank of Canada FI lifted its stake in shares of CGI by 23.6% during the 3rd quarter. National Bank of Canada FI now owns 4,513,733 shares of the technology company’s stock worth $519,072,000 after acquiring an additional 861,771 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of CGI by 17.3% during the 4th quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company’s stock worth $419,976,000 after acquiring an additional 567,868 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in CGI by 29.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company’s stock valued at $327,007,000 after acquiring an additional 678,431 shares during the period. 66.68% of the stock is owned by hedge funds and other institutional investors.

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.