CGI Inc. (NYSE:GIB) Shares Sold by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. trimmed its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 7.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 93,679 shares of the technology company’s stock after selling 7,531 shares during the period. Montrusco Bolton Investments Inc.’s holdings in CGI were worth $10,245,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GIB. Wilmington Savings Fund Society FSB purchased a new position in shares of CGI during the 3rd quarter worth about $28,000. Blue Trust Inc. increased its position in CGI by 288.2% during the third quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock worth $91,000 after purchasing an additional 585 shares during the last quarter. CWM LLC raised its stake in CGI by 14.8% during the third quarter. CWM LLC now owns 1,365 shares of the technology company’s stock worth $157,000 after purchasing an additional 176 shares during the period. Werba Rubin Papier Wealth Management purchased a new position in CGI during the third quarter worth approximately $208,000. Finally, Thrivent Financial for Lutherans acquired a new position in shares of CGI in the 3rd quarter valued at $209,000. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Price Performance

GIB stock opened at $114.45 on Wednesday. The stock has a 50-day simple moving average of $110.71 and a 200-day simple moving average of $111.24. The firm has a market cap of $26.08 billion, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 2.40 and a beta of 0.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.02 and a current ratio of 1.36. CGI Inc. has a 1 year low of $96.92 and a 1 year high of $118.89.

CGI (NYSE:GIB) (TSE:GIB.A) last issued 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 net margin of 11.53% and a return on equity of 19.74%. On average, equities analysts predict that CGI Inc. will post 5.9 earnings per share for the current fiscal year.

CGI Dividend Announcement

The company also recently disclosed a — dividend, which was paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th were issued a $0.111 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a yield of 0.4%. CGI’s dividend payout ratio is currently 8.55%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GIB shares. Jefferies Financial Group dropped their price objective on CGI from $140.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. CIBC upgraded CGI from a “neutral” rating to an “outperformer” rating and raised their price objective for the stock from $155.00 to $178.00 in a report on Tuesday, October 15th. StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Royal Bank of Canada restated an “outperform” rating and issued a $178.00 price target on shares of CGI in a report on Monday, January 6th. Finally, Cibc World Mkts raised shares of CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $150.75.

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.