Guardian Capital LP Purchases 10,188 Shares of CGI Inc. (NYSE:GIB)

Guardian Capital LP increased its stake in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 686,159 shares of the technology company's stock after acquiring an additional 10,188 shares during the period. CGI makes up approximately 2.8% of Guardian Capital LP's investment portfolio, making the stock its 9th biggest position. Guardian Capital LP owned 0.30% of CGI worth $75,038,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Northern Trust Corp lifted its stake in CGI by 64.4% in the fourth quarter. Northern Trust Corp now owns 194,481 shares of the technology company's stock worth $21,261,000 after acquiring an additional 76,175 shares during the period. Hsbc Holdings PLC boosted its stake in shares of CGI by 18.6% during the fourth quarter. Hsbc Holdings PLC now owns 1,032,579 shares of the technology company's stock valued at $112,913,000 after purchasing an additional 161,821 shares in the last quarter. Stifel Financial Corp increased its holdings in CGI by 54.1% during the fourth quarter. Stifel Financial Corp now owns 7,041 shares of the technology company's stock valued at $770,000 after buying an additional 2,472 shares during the period. State of Tennessee Department of Treasury raised its stake in CGI by 0.7% in the fourth quarter. State of Tennessee Department of Treasury now owns 117,431 shares of the technology company's stock worth $12,842,000 after buying an additional 783 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its holdings in CGI by 5.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 661,479 shares of the technology company's stock worth $72,145,000 after buying an additional 35,654 shares during the period. 66.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

GIB has been the topic of a number of analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $192.00 price objective on shares of CGI in a research report on Wednesday, March 26th. UBS Group increased their price objective on CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Finally, 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 note on Tuesday, January 21st. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $156.75.

CGI Trading Up 0.7 %

NYSE GIB traded up $0.69 during trading hours on Monday, reaching $105.61. The company had a trading volume of 68,829 shares, compared to its average volume of 200,812. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $23.94 billion, a P/E ratio of 19.09, a price-to-earnings-growth ratio of 2.58 and a beta of 0.85. The stock has a 50-day moving average of $102.72 and a 200 day moving average of $109.22. CGI Inc. has a 1-year low of $92.85 and a 1-year high of $122.79.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.02). The company had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $4.05 billion. CGI had a net margin of 11.72% and a return on equity of 19.32%. The business's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.97 EPS. As a group, research analysts anticipate that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Increases Dividend

The firm also recently disclosed 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 is a positive change from CGI's previous quarterly dividend of $0.10. This represents a $0.43 dividend on an annualized basis and a yield of 0.41%. CGI's payout ratio 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.