Net Worth Advisory Group Trims Stock Holdings in CGI Inc. (NYSE:GIB)

Net Worth Advisory Group trimmed its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 7.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,706 shares of the technology company’s stock after selling 318 shares during the quarter. Net Worth Advisory Group’s holdings in CGI were worth $370,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Fifth Third Bancorp increased its holdings in CGI by 239.5% during the 1st quarter. Fifth Third Bancorp now owns 258 shares of the technology company’s stock worth $26,000 after purchasing an additional 182 shares during the period. Moseley Investment Management Inc. purchased a new position in CGI during the 1st quarter worth $279,000. Farther Finance Advisors LLC increased its holdings in CGI by 8.6% during the 1st quarter. Farther Finance Advisors LLC now owns 9,342 shares of the technology company’s stock worth $942,000 after purchasing an additional 739 shares during the period. Park Avenue Securities LLC purchased a new position in CGI during the 1st quarter worth $450,000. Finally, First Affirmative Financial Network increased its holdings in shares of CGI by 3.8% in the 1st quarter. First Affirmative Financial Network now owns 2,905 shares of the technology company’s stock valued at $290,000 after acquiring an additional 106 shares during the period. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

CGI Stock Up 0.9%

CGI stock opened at $109.71 on Friday. 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 stock has a market capitalization of $24.87 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 2.58 and a beta of 0.78. CGI Inc. has a 1-year low of $92.85 and a 1-year high of $122.79. The business has a fifty day moving average price of $105.69 and a 200-day moving average price of $108.31.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.02). The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $4.05 billion. CGI had a return on equity of 19.32% and a net margin of 11.72%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.97 EPS. Equities research analysts forecast that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 16th will be given a $0.1086 dividend. This is a boost from CGI’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, May 16th. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.40%. CGI’s dividend payout ratio (DPR) is presently 7.83%.

Analyst Ratings Changes

Separately, Royal Bank of Canada reiterated an “outperform” rating and issued a $192.00 price target on shares of CGI in a report on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $156.75.

CGI 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.