Korea Investment CORP Reduces Stake in CGI Inc. (NYSE:GIB)

Korea Investment CORP reduced its stake in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 21.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 114,736 shares of the technology company’s stock after selling 32,200 shares during the period. Korea Investment CORP owned about 0.05% of CGI worth $12,547,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in CGI during the third quarter valued at $28,000. Sierra Ocean LLC purchased a new position in shares of CGI during the 4th quarter valued at $62,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of CGI during the 4th quarter worth $83,000. Blue Trust Inc. grew its stake in shares of CGI by 47.6% during the 4th quarter. Blue Trust Inc. now owns 1,163 shares of the technology company’s stock worth $134,000 after acquiring an additional 375 shares during the period. Finally, Olympiad Research LP purchased a new stake in CGI in the 4th quarter worth about $203,000. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Stock Performance

CGI stock opened at $98.09 on Monday. The firm’s 50 day simple moving average is $110.31 and its 200 day simple moving average is $111.50. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28. CGI Inc. has a 1-year low of $96.92 and a 1-year high of $122.79. The firm has a market capitalization of $22.24 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96.

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

CGI Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders 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 dividend yield of 0.42%. CGI’s dividend payout ratio (DPR) is presently 7.41%.

Analyst Ratings Changes

Several analysts have recently issued reports on GIB shares. Royal Bank of Canada reissued an “outperform” rating and issued a $192.00 price target on shares of CGI in a research report on Wednesday, March 26th. Jefferies Financial Group lowered their target price on shares of CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Finally, UBS Group raised their price target on CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. 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. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $156.75.

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.