QV Investors Inc. Reduces Stock Position in CGI Inc. (NYSE:GIB)

QV Investors Inc. trimmed its stake in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 0.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 537,746 shares of the technology company’s stock after selling 130 shares during the quarter. CGI comprises approximately 6.1% of QV Investors Inc.’s investment portfolio, making the stock its 3rd biggest position. QV Investors Inc. owned about 0.24% of CGI worth $58,807,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Rempart Asset Management Inc. lifted its position in CGI by 0.5% during the fourth quarter. Rempart Asset Management Inc. now owns 188,280 shares of the technology company’s stock worth $20,554,000 after acquiring an additional 1,015 shares during the last quarter. DGS Capital Management LLC lifted its holdings in CGI by 1.8% during the 3rd quarter. DGS Capital Management LLC now owns 31,280 shares of the technology company’s stock worth $3,596,000 after purchasing an additional 539 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in CGI in the 3rd quarter valued at $28,000. Unigestion Holding SA grew its holdings in CGI by 75.0% in the 3rd quarter. Unigestion Holding SA now owns 26,310 shares of the technology company’s stock valued at $3,027,000 after buying an additional 11,280 shares in the last quarter. Finally, Toronto Dominion Bank lifted its holdings in shares of CGI by 23.9% during the third quarter. Toronto Dominion Bank now owns 561,741 shares of the technology company’s stock worth $64,578,000 after buying an additional 108,428 shares in the last quarter. 66.68% of the stock is owned by institutional investors.

CGI Price Performance

NYSE GIB traded up $0.11 during trading on Monday, hitting $107.83. 85,580 shares of the company’s stock were exchanged, compared to its average volume of 142,730. The stock’s 50 day moving average price is $110.88 and its two-hundred day moving average price is $110.54. CGI Inc. has a fifty-two week low of $96.92 and a fifty-two week high of $118.89. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29. The company has a market cap of $24.57 billion, a PE ratio of 20.04, a P/E/G ratio of 2.55 and a beta of 0.95.

CGI Dividend Announcement

The company also recently disclosed a — dividend, which was paid on Friday, December 20th. Investors of record on Wednesday, November 20th were issued a dividend of $0.111 per share. This represents a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, November 20th. CGI’s dividend payout ratio (DPR) is 8.55%.

Analysts Set New Price Targets

GIB has been the subject of a number of recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $178.00 price objective on shares of CGI in a report on Monday, January 6th. Cibc World Mkts raised CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. CIBC raised CGI from a “neutral” rating to an “outperformer” rating and lifted their price objective for the company from $155.00 to $178.00 in a report on Tuesday, October 15th. Finally, StockNews.com raised CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $147.25.

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.