Amundi Reduces Stock Holdings in CGI Inc. (NYSE:GIB)

Amundi decreased its stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 21.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 340,888 shares of the technology company’s stock after selling 94,251 shares during the quarter. Amundi’s holdings in CGI were worth $37,198,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GIB. Wilmington Savings Fund Society FSB bought a new stake in shares of CGI during the 3rd quarter worth approximately $28,000. Sierra Ocean LLC bought a new stake in CGI during the 4th quarter valued at $62,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in CGI during the 4th quarter valued at $83,000. Blue Trust Inc. raised its position in shares of CGI by 47.6% in the 4th quarter. Blue Trust Inc. now owns 1,163 shares of the technology company’s stock worth $134,000 after acquiring an additional 375 shares in the last quarter. Finally, Olympiad Research LP bought a new position in shares of CGI in the 4th quarter worth $203,000. 66.68% of the stock is owned by institutional investors.

CGI Stock Up 0.1 %

Shares of GIB stock opened at $103.88 on Thursday. CGI Inc. has a 1-year low of $96.92 and a 1-year high of $122.79. The stock’s fifty day moving average price is $112.16 and its 200 day moving average price is $112.47. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.04. The company has a market cap of $23.55 billion, a price-to-earnings 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 announced its earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share 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, research analysts expect that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Announces Dividend

The company 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 dividend of $0.1039 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.42 annualized dividend and a yield of 0.40%. CGI’s payout ratio is presently 7.41%.

Analyst Upgrades and Downgrades

GIB has been the subject of several recent research reports. Jefferies Financial Group reduced their price target on CGI from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $178.00 price target on shares of CGI in a research report on Monday, January 6th. UBS Group boosted their price target on CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, StockNews.com raised CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 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 stock. According to MarketBeat, CGI currently has a consensus rating of “Buy” and an average price target of $153.25.

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.