PNC Financial Services Group Inc. Sells 811 Shares of CGI Inc. (NYSE:GIB)

PNC Financial Services Group Inc. decreased its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 19.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,430 shares of the technology company’s stock after selling 811 shares during the quarter. PNC Financial Services Group Inc.’s holdings in CGI were worth $375,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Atria Investments Inc purchased a new stake in shares of CGI in the 3rd quarter worth approximately $218,000. Natixis Advisors LLC lifted its holdings in CGI by 18.2% during the third quarter. Natixis Advisors LLC now owns 23,165 shares of the technology company’s stock worth $2,663,000 after buying an additional 3,564 shares during the period. Thrivent Financial for Lutherans bought a new stake in CGI during the 3rd quarter valued at $209,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of CGI by 55.6% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 200,361 shares of the technology company’s stock valued at $23,034,000 after acquiring an additional 71,576 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of CGI by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 560,159 shares of the technology company’s stock worth $64,518,000 after acquiring an additional 21,427 shares in the last quarter. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Stock Performance

Shares of CGI stock opened at $98.64 on Friday. The firm has a market capitalization of $22.37 billion, a P/E ratio of 17.84, a PEG ratio of 2.58 and a beta of 0.96. CGI Inc. has a 52 week low of $96.92 and a 52 week high of $122.79. 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 company has a 50 day moving average price of $111.33 and a 200 day moving average price of $112.09.

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 net margin of 11.72% and a return on equity of 19.32%. Sell-side analysts expect that CGI Inc. will post 5.79 EPS for the current year.

CGI Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 14th will be issued a $0.1039 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Friday, February 14th. CGI’s dividend payout ratio is presently 7.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GIB shares. UBS Group raised their price objective on CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. 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, Jefferies Financial Group decreased their target price on shares of CGI from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Two equities research 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.com, the stock presently 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.