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

Claret Asset Management Corp cut its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 1.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 401,362 shares of the technology company’s stock after selling 7,485 shares during the period. CGI comprises 6.9% of Claret Asset Management Corp’s portfolio, making the stock its 2nd biggest holding. Claret Asset Management Corp’s holdings in CGI were worth $43,892,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in CGI during the third quarter worth $28,000. Sierra Ocean LLC acquired a new position in shares of CGI during the 4th quarter worth about $62,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of CGI in the 4th quarter valued at about $83,000. Hoey Investments Inc. acquired a new stake in shares of CGI in the fourth quarter valued at about $99,000. Finally, Blue Trust Inc. boosted its position in CGI by 47.6% during the fourth quarter. Blue Trust Inc. now owns 1,163 shares of the technology company’s stock valued at $134,000 after purchasing an additional 375 shares during the last quarter. Institutional investors own 66.68% of the company’s stock.

CGI Price Performance

Shares of CGI stock opened at $105.32 on Friday. 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 stock has a market capitalization of $23.88 billion, a price-to-earnings 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 company has a 50-day simple moving average of $105.20 and a two-hundred day simple moving average of $109.97.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. Analysts forecast 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 paid a $0.1039 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend was Friday, February 14th. CGI’s dividend payout ratio (DPR) is presently 7.41%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. 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. 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 note on Tuesday, January 21st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $192.00 price target on shares of CGI in a research note on Wednesday, March 26th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target 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.