Cary Street Partners Financial LLC Takes $315,000 Position in CGI Inc. (NYSE:GIB)

Cary Street Partners Financial LLC bought a new position in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,877 shares of the technology company's stock, valued at approximately $315,000.

Other hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in CGI during the third quarter worth $28,000. Sierra Ocean LLC acquired a new stake in shares of CGI in the fourth quarter valued at about $62,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of CGI in the fourth quarter valued at about $83,000. Hoey Investments Inc. acquired a new stake in shares of CGI in the fourth quarter valued at about $99,000. Finally, Blue Trust Inc. grew its position in shares of CGI by 47.6% in the fourth quarter. Blue Trust Inc. now owns 1,163 shares of the technology company's stock valued at $134,000 after purchasing an additional 375 shares during the last quarter. 66.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GIB has been the topic of several research analyst reports. UBS Group raised their price target on CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Jefferies Financial Group lowered their price target 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 reaffirmed an "outperform" rating and issued a $192.00 price target on shares of CGI in a research report on Wednesday, March 26th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $156.75.

CGI Stock Performance

GIB stock traded up $0.12 during trading on Friday, reaching $107.92. 67,901 shares of the stock were exchanged, compared to its average volume of 200,406. CGI Inc. has a twelve month low of $92.85 and a twelve month high of $122.79. The company has a market capitalization of $24.47 billion, a P/E ratio of 19.52, a price-to-earnings-growth ratio of 2.58 and a beta of 0.78. The stock has a 50 day simple moving average of $102.92 and a 200-day simple moving average of $108.81. 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 (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its quarterly 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 business 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%. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.97 EPS. As a group, sell-side analysts anticipate that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Increases Dividend

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

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.