HighTower Advisors LLC Sells 4,085 Shares of CGI Inc. (NYSE:GIB)

HighTower Advisors LLC reduced its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 50.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,947 shares of the technology company’s stock after selling 4,085 shares during the period. HighTower Advisors LLC’s holdings in CGI were worth $432,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Canoe Financial LP bought a new stake in CGI in the 4th quarter valued at approximately $94,390,000. National Bank of Canada FI lifted its position in shares of CGI by 23.6% in the third quarter. National Bank of Canada FI now owns 4,513,733 shares of the technology company’s stock worth $519,072,000 after purchasing an additional 861,771 shares in the last quarter. Barclays PLC boosted its holdings in CGI by 182.6% during the third quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock worth $54,808,000 after purchasing an additional 308,040 shares during the last quarter. Toronto Dominion Bank grew its position in CGI by 23.9% in the third quarter. Toronto Dominion Bank now owns 561,741 shares of the technology company’s stock valued at $64,578,000 after purchasing an additional 108,428 shares in the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. increased its stake in CGI by 26.1% in the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 490,663 shares of the technology company’s stock valued at $53,617,000 after buying an additional 101,475 shares during the last quarter. 66.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and set a $192.00 price objective on shares of CGI in a research note on Wednesday, March 26th. 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. Finally, 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. Two 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. According to MarketBeat, CGI currently has a consensus rating of “Buy” and an average target price of $156.75.

CGI Trading Up 1.8 %

Shares of NYSE:GIB opened at $99.89 on Tuesday. CGI Inc. has a 52-week low of $96.75 and a 52-week high of $122.79. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31. The company has a market capitalization of $22.65 billion, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96. The company has a 50-day simple moving average of $110.14 and a 200 day simple moving average of $111.40.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 earnings per share (EPS) 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 forecast that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Dividend Announcement

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

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.