CGI Inc. (NYSE:GIB) Shares Sold by Laird Norton Wetherby Wealth Management LLC

Laird Norton Wetherby Wealth Management LLC reduced its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 16.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,953 shares of the technology company’s stock after selling 1,204 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in CGI were worth $651,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GIB. Gotham Asset Management LLC raised its holdings in CGI by 20.9% during the fourth quarter. Gotham Asset Management LLC now owns 6,672 shares of the technology company’s stock worth $729,000 after purchasing an additional 1,155 shares during the last quarter. Focus Partners Wealth raised its holdings in CGI by 48.1% during the fourth quarter. Focus Partners Wealth now owns 4,163 shares of the technology company’s stock worth $455,000 after purchasing an additional 1,352 shares during the last quarter. Ethic Inc. acquired a new position in CGI during the fourth quarter worth $547,000. Ewing Morris & Co. Investment Partners Ltd. acquired a new position in CGI during the fourth quarter worth $987,000. Finally, Deutsche Bank AG raised its holdings in CGI by 15.4% during the fourth quarter. Deutsche Bank AG now owns 438,614 shares of the technology company’s stock worth $47,949,000 after purchasing an additional 58,407 shares during the last quarter. 66.68% of the stock is owned by institutional investors and hedge funds.

CGI Stock Performance

CGI stock opened at $106.75 on Thursday. 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 stock has a fifty day moving average of $102.85 and a two-hundred day moving average of $108.85. The company has a market capitalization of $24.20 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 2.58 and a beta of 0.78. CGI Inc. has a fifty-two week low of $92.85 and a fifty-two week high of $122.79.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.02). The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $4.05 billion. CGI had a return on equity of 19.32% and a net margin of 11.72%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.97 EPS. On average, analysts anticipate 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 issued a dividend of $0.1086 per share. 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 annualized dividend and a dividend yield of 0.41%. CGI’s dividend payout ratio (DPR) is 7.47%.

Analyst Upgrades and Downgrades

GIB has been the subject of several research reports. Jefferies Financial Group reduced their price objective on CGI from $140.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $192.00 price objective on shares of CGI in a report on Wednesday, March 26th. Finally, UBS Group lifted their price objective 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, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price 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.