Claret Asset Management Corp Has $43.89 Million Position in CGI Inc. (NYSE:GIB)

Claret Asset Management Corp reduced its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 401,362 shares of the technology company’s stock after selling 7,485 shares during the quarter. CGI accounts for 6.9% of Claret Asset Management Corp’s holdings, making the stock its 2nd biggest position. Claret Asset Management Corp owned about 0.18% of CGI worth $43,892,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GIB. Wilmington Savings Fund Society FSB bought a new position in shares of CGI in the third quarter valued at $28,000. Sierra Ocean LLC acquired a new position in shares of CGI in the 4th quarter valued at $62,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in CGI in the 4th quarter worth about $83,000. Hoey Investments Inc. acquired a new position in shares of CGI in the fourth quarter worth about $99,000. Finally, Blue Trust Inc. increased its position 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. 66.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. UBS Group raised their target price on CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. 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. Finally, Jefferies Financial Group lowered their price objective on shares of CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $156.75.

CGI Stock Performance

Shares of NYSE:GIB opened at $105.32 on Friday. 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 firm has a market cap of $23.88 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 2.58 and a beta of 0.85. CGI Inc. has a twelve month low of $92.85 and a twelve month high of $122.79. The business has a fifty day moving average of $105.20 and a 200-day moving average of $109.97.

CGI (NYSE:GIB) (TSE:GIB.A) last posted 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%. On average, equities research analysts predict that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Dividend Announcement

The company 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 of this dividend was Friday, February 14th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.39%. CGI’s dividend payout ratio is 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.