CGI (NYSE:GIB) Trading Down 5.1% – Should You Sell?

CGI Inc. (NYSE:GIB) (TSE:GIB.A)’s stock price traded down 5.1% during trading on Thursday . The company traded as low as $98.46 and last traded at $98.23. 86,333 shares were traded during mid-day trading, a decline of 51% from the average session volume of 175,870 shares. The stock had previously closed at $103.52.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GIB shares. UBS Group increased their price target on CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. 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, Jefferies Financial Group cut their price target on CGI from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Two 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.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $153.25.

CGI Stock Up 0.1 %

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 50-day moving average of $111.15 and a two-hundred day moving average of $111.99. The company has a market capitalization of $22.40 billion, a PE ratio of 17.87, a P/E/G 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 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. Sell-side analysts anticipate that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 14th were given a $0.1039 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.42%. CGI’s payout ratio is currently 7.41%.

Institutional Trading of CGI

Institutional investors and hedge funds have recently modified their holdings of the company. Metis Global Partners LLC increased its stake in CGI by 1.0% in the 4th quarter. Metis Global Partners LLC now owns 10,534 shares of the technology company’s stock worth $1,153,000 after buying an additional 108 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of CGI by 0.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 31,209 shares of the technology company’s stock worth $3,412,000 after acquiring an additional 111 shares during the period. Ameriprise Financial Inc. grew its position in shares of CGI by 0.9% during the fourth quarter. Ameriprise Financial Inc. now owns 12,619 shares of the technology company’s stock worth $1,380,000 after purchasing an additional 115 shares in the last quarter. Manhattan West Asset Management LLC raised its stake in CGI by 0.5% during the 4th quarter. Manhattan West Asset Management LLC now owns 25,425 shares of the technology company’s stock valued at $2,779,000 after purchasing an additional 126 shares during the period. Finally, Signal Advisors Wealth LLC lifted its holdings in CGI by 4.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 3,158 shares of the technology company’s stock worth $345,000 after purchasing an additional 135 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors.

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.