Amundi Reduces Position in CGI Inc. (NYSE:GIB)

Amundi cut its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 21.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 340,888 shares of the technology company’s stock after selling 94,251 shares during the period. Amundi owned approximately 0.15% of CGI worth $37,198,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of CGI by 8.6% during the third 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 during the last quarter. Barclays PLC boosted 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 position in shares of CGI by 4.0% during 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 buying an additional 21,427 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of CGI during the third quarter valued at $825,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of CGI by 68.2% during the third 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 during the last quarter. 66.68% of the stock is owned by hedge funds and other institutional investors.

CGI Stock Up 0.1 %

NYSE GIB opened at $103.88 on Thursday. The stock’s 50-day moving average price is $112.16 and its 200-day moving average price is $112.47. 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 Inc. has a 52 week low of $96.92 and a 52 week high of $122.79. The company has a market capitalization of $23.55 billion, a P/E ratio of 18.79, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96.

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

CGI Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have weighed in on GIB. Jefferies Financial Group lowered their target price on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. StockNews.com raised CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $178.00 target price on shares of CGI in a report on Monday, January 6th. Finally, UBS Group increased their target price on CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Two 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 data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $153.25.

CGI 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.