2,877 Shares in CGI Inc. (NYSE:GIB) Bought by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC purchased a new position in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,877 shares of the technology company's stock, valued at approximately $315,000.

Several other institutional investors also recently modified their holdings of the business. Balyasny Asset Management L.P. grew its position in shares of CGI by 14.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 29,402 shares of the technology company's stock worth $3,214,000 after buying an additional 3,668 shares during the period. Bank of America Corp DE grew its holdings in CGI by 47.2% during the fourth quarter. Bank of America Corp DE now owns 736,901 shares of the technology company's stock valued at $80,558,000 after purchasing an additional 236,333 shares during the period. BNP Paribas Financial Markets acquired a new position in CGI during the fourth quarter valued at approximately $1,734,000. Ameriprise Financial Inc. grew its holdings in CGI by 0.9% during the fourth quarter. Ameriprise Financial Inc. now owns 12,619 shares of the technology company's stock valued at $1,380,000 after purchasing an additional 115 shares during the period. Finally, Guardian Capital LP grew its holdings in CGI by 1.5% during the fourth quarter. Guardian Capital LP now owns 686,159 shares of the technology company's stock valued at $75,038,000 after purchasing an additional 10,188 shares during the period. Institutional investors and hedge funds own 66.68% of the company's stock.

CGI Stock Down 0.8%

GIB traded down $0.81 during trading on Wednesday, reaching $106.75. The company had a trading volume of 189,891 shares, compared to its average volume of 201,115. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.04. CGI Inc. has a 12 month low of $92.85 and a 12 month high of $122.79. The business's fifty day moving average price is $102.81 and its 200 day moving average price is $108.86. The company has a market cap of $24.20 billion, a P/E ratio of 19.30, a PEG ratio of 2.58 and a beta of 0.78.

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 earnings per share for the quarter, missing analysts' consensus estimates of $1.50 by ($0.02). CGI had a net margin of 11.72% and a return on equity of 19.32%. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the previous year, the firm posted $1.97 EPS. The business's quarterly revenue was up 7.6% compared to the same quarter last year. Equities analysts anticipate that CGI Inc. will post 5.79 EPS for the current year.

CGI Increases Dividend

The business 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 $0.1086 dividend. The ex-dividend date is Friday, May 16th. This represents a $0.43 dividend on an annualized basis and a yield of 0.41%. This is a positive change from CGI's previous quarterly dividend of $0.10. CGI's payout ratio is presently 7.47%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GIB shares. UBS Group boosted their price objective on shares of CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Royal Bank of Canada restated an "outperform" rating and set a $192.00 price objective on shares of CGI in a report on Wednesday, March 26th. Finally, Jefferies Financial Group decreased their price objective on shares of CGI from $140.00 to $135.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price 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.