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Constellation Software Chairman John Billowits Offloads Over $3.8 Million in Company Shares
Technology Services · Packaged Software · globe_inside_market · 2026-09-09
FTS, CG, GIB, CSU
Recent insider filings reveal significant stock sales by executives at Constellation Software, CGI Inc., and Centerra Gold, alongside a purchase at Fortis Inc.
What Happened
Insider Selling Activity: Constellation Software Inc. chairman John Billowits recently sold 1,200 shares of the company, generating proceeds exceeding $3.8 million. Despite the sale, Billowits retains a significant position of 12,370 shares in the account used for the transaction.
Executive Transactions at CGI and Centerra: CGI Inc. president of Canada operations Michael Godin exercised options to acquire 10,599 shares before selling them for over $419,000. Similarly, Centerra Gold executive Yousef Rehman exercised options to net over $1.5 million through the sale of 57,636 shares.
Fortis Insider Buying: In contrast to the selling activity, Fortis Inc. director Rowena Crosbie initiated a new position in an indirect account. Crosbie purchased 2,000 shares of the utility company at a price of US$55.265, totaling an investment of over US$110,000.
Market Context and Interpretation: Insider transactions are often complex, as selling may be driven by personal liquidity needs rather than a negative outlook on company valuation. Investors are encouraged to view these trades within the broader context of an insider's total holdings and the frequency of activity across a company's leadership team.