CGI Inc. (NYSE:GIB) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC reduced its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 3.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 610,547 shares of the technology company’s stock after selling 19,751 shares during the quarter. Clearbridge Investments LLC owned about 0.27% of CGI worth $66,745,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. CIBC Private Wealth Group LLC increased its stake in shares of CGI by 840.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,244 shares of the technology company’s stock worth $354,000 after acquiring an additional 2,899 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of CGI by 29.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company’s stock worth $327,007,000 after buying an additional 678,431 shares in the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of CGI by 8.9% during the 4th quarter. Orion Portfolio Solutions LLC now owns 9,898 shares of the technology company’s stock worth $1,082,000 after buying an additional 805 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of CGI by 20.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 166,731 shares of the technology company’s stock valued at $18,233,000 after buying an additional 27,792 shares during the period. Finally, Norges Bank acquired a new position in CGI during the fourth quarter worth $286,970,000. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Price Performance

CGI stock opened at $99.89 on Tuesday. The firm has a market capitalization of $22.65 billion, a PE ratio of 18.06, a P/E/G ratio of 2.58 and a beta of 0.96. CGI Inc. has a 52 week low of $96.75 and a 52 week high of $122.79. The firm’s 50-day simple moving average is $110.14 and its 200 day simple moving average is $111.40. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings results 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 net margin of 11.72% and a return on equity of 19.32%. On average, equities research analysts predict that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 14th were given a dividend of $0.1039 per share. This represents a $0.42 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Friday, February 14th. CGI’s payout ratio is 7.41%.

Analysts Set New Price Targets

GIB has been the subject of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $192.00 target price on shares of CGI in a report on Wednesday, March 26th. UBS Group boosted their price objective on shares of CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, Jefferies Financial Group dropped their target price on shares of CGI from $140.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus 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.