CGI Inc. (NYSE:GIB) Stake Decreased by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. reduced its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 9.7% during the 4th quarter, Holdings Channel reports. The fund owned 3,422,615 shares of the technology company’s stock after selling 367,916 shares during the quarter. CGI comprises 2.0% of Beutel Goodman & Co Ltd.’s portfolio, making the stock its 17th largest holding. Beutel Goodman & Co Ltd.’s holdings in CGI were worth $374,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in GIB. Metis Global Partners LLC grew its stake in shares of CGI by 1.0% in the fourth quarter. Metis Global Partners LLC now owns 10,534 shares of the technology company’s stock worth $1,153,000 after purchasing an additional 108 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in CGI by 0.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 31,209 shares of the technology company’s stock valued at $3,412,000 after buying an additional 111 shares during the period. Signal Advisors Wealth LLC raised its position in shares of CGI by 4.5% during the 4th quarter. Signal Advisors Wealth LLC now owns 3,158 shares of the technology company’s stock worth $345,000 after buying an additional 135 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of CGI during the 3rd quarter worth about $28,000. Finally, PCJ Investment Counsel Ltd. lifted its stake in shares of CGI by 3.1% in the 4th quarter. PCJ Investment Counsel Ltd. now owns 10,960 shares of the technology company’s stock worth $1,198,000 after acquiring an additional 330 shares during the period. Institutional investors own 66.68% of the company’s stock.

CGI Stock Performance

GIB opened at $98.09 on Friday. 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 firm has a market cap of $22.24 billion, a PE ratio of 17.74, a P/E/G ratio of 2.58 and a beta of 0.96. The business has a fifty day simple moving average of $110.31 and a 200-day simple moving average of $111.55. CGI Inc. has a fifty-two week low of $96.92 and a fifty-two week high of $122.79.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results 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%. As a group, equities analysts predict that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GIB shares. UBS Group boosted their target price on CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $192.00 price objective on shares of CGI in a report on Wednesday. Finally, Jefferies Financial Group decreased their target price 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 given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, CGI currently has an average rating of “Buy” and an average target price of $156.75.

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.