CGI Inc. (NYSE:GIB) Stock Holdings Lowered by New South Capital Management Inc.

New South Capital Management Inc. lowered its stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 608,631 shares of the technology company’s stock after selling 10,285 shares during the quarter. CGI accounts for 2.8% of New South Capital Management Inc.’s portfolio, making the stock its 9th largest position. New South Capital Management Inc. owned about 0.27% of CGI worth $66,536,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in CGI by 8.6% in the third 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 during the period. Barclays PLC raised its position 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 during the period. Charles Schwab Investment Management Inc. raised its position in CGI by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 560,159 shares of the technology company’s stock worth $64,518,000 after acquiring an additional 21,427 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in CGI in the third quarter worth approximately $825,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in CGI by 68.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock worth $157,485,000 after acquiring an additional 555,017 shares during the period. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Price Performance

GIB stock opened at $103.84 on Thursday. CGI Inc. has a 12 month low of $96.92 and a 12 month high of $122.79. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average price of $112.71 and a 200 day moving average price of $112.65. The stock has a market cap of $23.54 billion, a PE ratio of 18.78, a P/E/G ratio of 2.58 and a beta of 0.94.

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

CGI Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently commented on GIB shares. 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 report on Monday, February 3rd. StockNews.com upgraded shares of CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $178.00 price target on shares of CGI in a report on Monday, January 6th. Finally, Jefferies Financial Group reduced their price target on shares of CGI from $140.00 to $135.00 and set a “buy” rating on the stock 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $153.25.

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.