Wealth Enhancement Advisory Services LLC Sells 119 Shares of CGI Inc. (NYSE:GIB)

Wealth Enhancement Advisory Services LLC lowered its stake in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,539 shares of the technology company’s stock after selling 119 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in CGI were worth $278,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp grew its position in shares of CGI by 0.5% during the 4th quarter. Bank of New York Mellon Corp now owns 289,654 shares of the technology company’s stock valued at $31,665,000 after acquiring an additional 1,409 shares during the period. Northern Trust Corp grew its stake in CGI by 64.4% during the fourth quarter. Northern Trust Corp now owns 194,481 shares of the technology company’s stock valued at $21,261,000 after acquiring an additional 76,175 shares in the last quarter. Raymond James Financial Inc. purchased a new position in CGI during the fourth quarter valued at approximately $925,000. Sierra Ocean LLC bought a new stake in CGI during the 4th quarter worth approximately $62,000. Finally, Commonwealth Equity Services LLC lifted its stake in CGI by 3.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 13,515 shares of the technology company’s stock worth $1,477,000 after purchasing an additional 464 shares in the last quarter. 66.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reissued an “outperform” rating and issued a $192.00 target price on shares of CGI in a research note on Wednesday, March 26th. Two 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $156.75.

CGI Stock Down 1.3%

Shares of NYSE GIB opened at $108.21 on Monday. 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 company has a market cap of $24.28 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 2.58 and a beta of 0.77. CGI Inc. has a 52 week low of $92.85 and a 52 week high of $122.79. The firm’s fifty day moving average is $105.93 and its 200 day moving average is $108.22.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its earnings results on Wednesday, April 30th. The technology company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.02). CGI had a return on equity of 19.32% and a net margin of 11.72%. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same period in the prior year, the business posted $1.97 earnings per share. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities research analysts expect that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 16th will be paid a dividend of $0.1086 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.43 annualized dividend and a yield of 0.40%. This is a positive change from CGI’s previous quarterly dividend of $0.10. CGI’s payout ratio is presently 7.83%.

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.