CGI Inc. (NYSE:GIB) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG lifted its position in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 15.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 438,614 shares of the technology company's stock after purchasing an additional 58,407 shares during the quarter. Deutsche Bank AG owned about 0.19% of CGI worth $47,949,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GIB. Norges Bank purchased a new position in CGI during the fourth quarter worth about $286,970,000. Canoe Financial LP purchased a new position in CGI during the fourth quarter worth about $94,390,000. Arrowstreet Capital Limited Partnership boosted its stake in CGI by 29.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company's stock worth $327,007,000 after buying an additional 678,431 shares during the period. Bank of Montreal Can boosted its stake in CGI by 17.3% during the fourth quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company's stock worth $419,976,000 after buying an additional 567,868 shares during the period. Finally, Barclays PLC boosted its stake in CGI by 182.6% during the third quarter. Barclays PLC now owns 476,758 shares of the technology company's stock worth $54,808,000 after buying an additional 308,040 shares during the period. Hedge funds and other institutional investors own 66.68% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on GIB shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $192.00 target price on shares of CGI in a research note on Wednesday, March 26th. UBS Group increased their target price on shares of CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Finally, Jefferies Financial Group lowered their target price on shares of CGI from $140.00 to $135.00 and set a "buy" rating for the company in a research note on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $156.75.

CGI Stock Up 0.3%

Shares of GIB traded up $0.37 during mid-day trading on Friday, hitting $108.28. 212,292 shares of the company's stock were exchanged, compared to its average volume of 201,272. The company has a market cap of $24.55 billion, a price-to-earnings ratio of 19.58, a P/E/G ratio of 2.58 and a beta of 0.78. CGI Inc. has a fifty-two week low of $92.85 and a fifty-two week high of $122.79. 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 stock's 50-day moving average is $103.00 and its 200-day moving average is $108.76.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last issued its quarterly earnings results 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 business had revenue of $2.80 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company posted $1.97 EPS. On average, sell-side analysts anticipate that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 16th will be issued a $0.1086 dividend. 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 annualized dividend and a yield of 0.40%. CGI's dividend payout ratio (DPR) is 7.47%.

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.