Connor Clark & Lunn Investment Management Ltd. Decreases Position in CGI Inc. (NYSE:GIB)

Connor Clark & Lunn Investment Management Ltd. trimmed its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,314,719 shares of the technology company’s stock after selling 54,103 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.58% of CGI worth $143,666,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in CGI by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 998,470 shares of the technology company’s stock valued at $115,844,000 after buying an additional 79,362 shares in the last quarter. Barclays PLC lifted its position in shares of CGI by 182.6% during the third 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 during the last quarter. Charles Schwab Investment Management Inc. boosted its stake 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 valued at $64,518,000 after acquiring an additional 21,427 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in shares of CGI in the 3rd quarter worth $825,000. Finally, Blue Trust Inc. grew its stake in shares of CGI by 47.6% during the fourth quarter. Blue Trust Inc. now owns 1,163 shares of the technology company’s stock worth $134,000 after acquiring an additional 375 shares during the last quarter. Institutional investors own 66.68% of the company’s stock.

CGI Price Performance

GIB stock opened at $103.86 on Wednesday. The business has a fifty day moving average of $112.27 and a two-hundred day moving average of $112.53. CGI Inc. has a 52-week low of $96.92 and a 52-week high of $122.79. 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 $23.55 billion, a price-to-earnings ratio of 18.78, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96.

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%. As a group, research analysts anticipate that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GIB shares. StockNews.com upgraded shares of CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. UBS Group lifted their price target on shares of CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Jefferies Financial Group reduced their target price on CGI from $140.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $178.00 target price on shares of CGI in a research report on Monday, January 6th. Two investment 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target 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.