Balyasny Asset Management L.P. Has $3.21 Million Stake in CGI Inc. (NYSE:GIB)

Balyasny Asset Management L.P. increased its position in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 14.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,402 shares of the technology company's stock after buying an additional 3,668 shares during the quarter. Balyasny Asset Management L.P.'s holdings in CGI were worth $3,214,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Barclays PLC lifted its holdings in shares of CGI by 182.6% during the third quarter. Barclays PLC now owns 476,758 shares of the technology company's stock valued at $54,808,000 after purchasing an additional 308,040 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of CGI during the third quarter valued at $28,000. Harbour Capital Advisors LLC lifted its holdings in shares of CGI by 39.4% during the fourth quarter. Harbour Capital Advisors LLC now owns 4,758 shares of the technology company's stock valued at $523,000 after purchasing an additional 1,345 shares during the last quarter. Signal Advisors Wealth LLC lifted its holdings in shares of CGI by 4.5% during the fourth 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 last quarter. Finally, Kathmere Capital Management LLC lifted its holdings in shares of CGI by 18.6% during the fourth quarter. Kathmere Capital Management LLC now owns 11,594 shares of the technology company's stock valued at $1,267,000 after purchasing an additional 1,817 shares during the last quarter. Institutional investors and hedge funds own 66.68% of the company's stock.

CGI Stock Up 0.3%

GIB stock traded up $0.37 during mid-day trading on Friday, hitting $108.28. The stock had a trading volume of 212,292 shares, compared to its average volume of 201,329. 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. The company has a fifty day moving average of $103.00 and a 200 day moving average of $108.74. The stock has a market capitalization of $24.55 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 2.58 and a beta of 0.78.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last issued its earnings results on Wednesday, April 30th. The technology company reported $1.48 earnings per share 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 firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same period in the previous year, the company earned $1.97 earnings per share. The business's revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities analysts expect that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 16th will be given a $0.1086 dividend. This is a positive change from CGI's previous quarterly dividend of $0.10. This represents a $0.43 annualized dividend and a yield of 0.40%. The ex-dividend date is Friday, May 16th. CGI's dividend payout ratio is presently 7.47%.

Analysts Set New Price Targets

Several brokerages recently issued reports on GIB. Royal Bank of Canada reissued an "outperform" rating and issued a $192.00 price objective on shares of CGI in a research note on Wednesday, March 26th. Jefferies Financial Group reduced their price objective on CGI from $140.00 to $135.00 and set a "buy" rating for the company in a research note on Tuesday, January 21st. Finally, UBS Group increased their price objective on CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Two investment 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 company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $156.75.

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.