Charles Schwab Investment Management Inc. Has $60.84 Million Stake in CGI Inc. (NYSE:GIB)

Charles Schwab Investment Management Inc. decreased its stake in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 0.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 556,279 shares of the technology company’s stock after selling 3,880 shares during the period. Charles Schwab Investment Management Inc. owned 0.25% of CGI worth $60,836,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Metis Global Partners LLC increased its holdings in shares of CGI by 1.0% during the 4th quarter. Metis Global Partners LLC now owns 10,534 shares of the technology company’s stock valued at $1,153,000 after acquiring an additional 108 shares during the last quarter. West Family Investments Inc. increased its holdings in shares of CGI by 5.5% during the 3rd quarter. West Family Investments Inc. now owns 2,323 shares of the technology company’s stock valued at $267,000 after acquiring an additional 121 shares during the last quarter. Signal Advisors Wealth LLC boosted its stake in CGI by 4.5% during the 4th quarter. Signal Advisors Wealth LLC now owns 3,158 shares of the technology company’s stock valued at $345,000 after purchasing an additional 135 shares during the period. US Bancorp DE boosted its stake in CGI by 8.4% during the 3rd quarter. US Bancorp DE now owns 3,099 shares of the technology company’s stock valued at $356,000 after purchasing an additional 240 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in CGI during the 3rd quarter valued at approximately $28,000. Institutional investors and hedge funds own 66.68% of the company’s stock.

CGI Price Performance

Shares of GIB stock opened at $103.88 on Thursday. The stock has a 50 day moving average of $112.16 and a two-hundred day moving average of $112.47. 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 12 month low of $96.92 and a 12 month high of $122.79. The company has a market capitalization of $23.55 billion, a P/E ratio of 18.79, a P/E/G ratio of 2.58 and a beta of 0.96.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, hitting analysts’ consensus estimates of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. As a group, equities analysts expect that CGI Inc. will post 5.79 EPS for the current year.

CGI Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 14th will be issued a $0.1039 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.40%. CGI’s payout ratio is presently 7.41%.

Analyst Ratings Changes

Several analysts recently weighed in on GIB shares. StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. UBS Group increased their target price on CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and set a $178.00 target price on shares of CGI in a research note on Monday, January 6th. Finally, Jefferies Financial Group decreased their target price on CGI from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, CGI currently has an average rating of “Buy” and an average price target of $153.25.

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.