CGI Inc. (NYSE:GIB) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC lessened its stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 7.6% in the 4th quarter, Holdings Channel reports. The firm owned 2,822 shares of the technology company’s stock after selling 232 shares during the period. Parallel Advisors LLC’s holdings in CGI were worth $309,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of CGI in the third quarter worth $28,000. Sierra Ocean LLC acquired a new position in shares of CGI in the fourth quarter worth $62,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of CGI in the fourth quarter worth $83,000. Blue Trust Inc. grew its stake in shares of CGI by 47.6% in the fourth 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 acquired a new position in shares of CGI in the fourth quarter worth $203,000. Institutional investors and hedge funds own 66.68% of the company’s stock.

Analyst Upgrades and Downgrades

GIB has been the subject of several research reports. Jefferies Financial Group dropped their price target on shares of CGI from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. UBS Group lifted their price objective on shares of CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $178.00 price objective on shares of CGI in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $153.25.

CGI Price Performance

Shares of GIB opened at $98.80 on Friday. CGI Inc. has a 1-year low of $96.92 and a 1-year high of $122.79. The stock has a market cap of $22.40 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96. 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 firm has a fifty day moving average price of $111.15 and a 200 day moving average price of $111.99.

CGI (NYSE:GIB) (TSE:GIB.A) last announced 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 net margin of 11.72% and a return on equity of 19.32%. As a group, sell-side analysts anticipate that CGI Inc. will post 5.79 EPS for the current year.

CGI Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 14th were given a $0.1039 dividend. 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 presently 7.41%.

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.