Balyasny Asset Management L.P. Buys 3,668 Shares of CGI Inc. (NYSE:GIB)

Balyasny Asset Management L.P. grew its position in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 14.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 29,402 shares of the technology company's stock after acquiring an additional 3,668 shares during the period. Balyasny Asset Management L.P.'s holdings in CGI were worth $3,214,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Metis Global Partners LLC lifted its stake in 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 period. Sequoia Financial Advisors LLC lifted its position in CGI by 0.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 31,209 shares of the technology company's stock valued at $3,412,000 after purchasing an additional 111 shares during the period. Ameriprise Financial Inc. boosted its holdings in CGI by 0.9% in the fourth quarter. Ameriprise Financial Inc. now owns 12,619 shares of the technology company's stock worth $1,380,000 after purchasing an additional 115 shares during the last quarter. Manhattan West Asset Management LLC boosted its holdings in CGI by 0.5% in the fourth quarter. Manhattan West Asset Management LLC now owns 25,425 shares of the technology company's stock worth $2,779,000 after purchasing an additional 126 shares during the last quarter. Finally, Signal Advisors Wealth LLC grew its position in CGI by 4.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 3,158 shares of the technology company's stock worth $345,000 after purchasing an additional 135 shares during the period. Institutional investors own 66.68% of the company's stock.

CGI Stock Performance

Shares of GIB stock traded up $1.12 during mid-day trading on Thursday, reaching $107.95. 158,724 shares of the company's stock traded hands, compared to its average volume of 200,946. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31. The firm has a market capitalization of $24.48 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 2.58 and a beta of 0.78. CGI Inc. has a 12 month low of $92.85 and a 12 month high of $122.79. The firm has a 50 day moving average price of $102.85 and a two-hundred day moving average price of $108.85.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last released its earnings results on Wednesday, April 30th. The technology company reported $1.48 EPS for the quarter, missing analysts' consensus estimates of $1.50 by ($0.02). The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $4.05 billion. CGI had a return on equity of 19.32% and a net margin of 11.72%. CGI's revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.97 EPS. On average, research analysts forecast that CGI Inc. will post 5.79 EPS for the current year.

CGI Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GIB shares. UBS Group raised their price target on CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Jefferies Financial Group dropped their target price on CGI from $140.00 to $135.00 and set a "buy" rating on the stock in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada restated an "outperform" rating and set a $192.00 price target on shares of CGI in a research note 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $156.75.

About CGI

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.