CGI Inc. (NYSE:GIB) Stock Position Reduced by Parallel Advisors LLC

Parallel Advisors LLC cut its stake in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 14.6% during the first quarter, HoldingsChannel.com reports. The firm owned 2,410 shares of the technology company’s stock after selling 412 shares during the period. Parallel Advisors LLC’s holdings in CGI were worth $240,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GIB. Sierra Ocean LLC acquired a new stake in CGI in the fourth quarter valued at approximately $62,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in CGI during the fourth quarter worth $83,000. Hoey Investments Inc. bought a new position in CGI during the fourth quarter worth $99,000. Versant Capital Management Inc increased its holdings in CGI by 371.7% in the 1st quarter. Versant Capital Management Inc now owns 1,052 shares of the technology company’s stock valued at $105,000 after buying an additional 829 shares during the period. Finally, Blue Trust Inc. increased its holdings in CGI by 47.6% in the 4th quarter. Blue Trust Inc. now owns 1,163 shares of the technology company’s stock valued at $134,000 after buying an additional 375 shares during the period. 66.68% of the stock is owned by hedge funds and other institutional investors.

CGI Stock Performance

CGI stock opened at $107.86 on Thursday. The company has a market cap of $24.46 billion, a PE ratio of 19.50, a PEG ratio of 2.58 and a beta of 0.78. The company’s 50-day moving average is $104.61 and its two-hundred day moving average is $108.41. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28. CGI Inc. has a 1 year low of $92.85 and a 1 year high of $122.79.

CGI (NYSE:GIB) (TSE:GIB.A) last announced 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). The company had revenue of $2.80 billion for 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 business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the business posted $1.97 earnings per share. Equities analysts anticipate that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.1086 per share. This is a boost from CGI’s previous quarterly dividend of $0.10. This represents a $0.43 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, May 16th. CGI’s dividend payout ratio (DPR) is currently 7.47%.

Analyst Ratings Changes

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

CGI Company 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.