Envestnet Asset Management Inc. Has $6.56 Million Stake in CGI Inc. (NYSE:GIB)

Envestnet Asset Management Inc. lessened its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,968 shares of the technology company’s stock after selling 1,794 shares during the period. Envestnet Asset Management Inc.’s holdings in CGI were worth $6,556,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of CGI in the third quarter worth $28,000. Sierra Ocean LLC bought a new stake in CGI in the fourth quarter valued at approximately $62,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in CGI in the fourth quarter valued at approximately $83,000. Hoey Investments Inc. acquired a new stake in CGI during the 4th quarter valued at approximately $99,000. Finally, Blue Trust Inc. raised its holdings in 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 purchasing an additional 375 shares during the last quarter. 66.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GIB. Royal Bank of Canada reiterated an “outperform” rating and set a $192.00 price target on shares of CGI in a report on Wednesday, March 26th. UBS Group lifted their target price on CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, Jefferies Financial Group cut their price target on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, CGI has a consensus rating of “Buy” and a consensus target price of $156.75.

CGI Stock Performance

Shares of CGI stock opened at $105.32 on Monday. The company 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. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. CGI Inc. has a 52 week low of $92.85 and a 52 week high of $122.79. The business has a 50 day moving average price of $105.20 and a 200-day moving average price of $109.89.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share for the quarter, hitting the consensus estimate of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. Equities analysts anticipate that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 14th were paid a dividend of $0.1039 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend was Friday, February 14th. CGI’s payout ratio is currently 7.41%.

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.