Dimensional Fund Advisors LP Increases Stock Position in CGI Inc. (NYSE:GIB)

Dimensional Fund Advisors LP increased its holdings in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 6.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 681,619 shares of the technology company's stock after purchasing an additional 41,074 shares during the period. Dimensional Fund Advisors LP owned approximately 0.30% of CGI worth $74,515,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in CGI in the fourth quarter valued at approximately $286,970,000. Canoe Financial LP bought a new stake in CGI during the 4th quarter valued at $94,390,000. Arrowstreet Capital Limited Partnership boosted its position in CGI by 29.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company's stock valued at $327,007,000 after buying an additional 678,431 shares during the period. Bank of Montreal Can boosted its position in CGI by 17.3% during the 4th quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company's stock valued at $419,976,000 after buying an additional 567,868 shares during the period. Finally, Barclays PLC grew its holdings in CGI by 182.6% in the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company's stock worth $54,808,000 after acquiring an additional 308,040 shares during the last quarter. Institutional investors own 66.68% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GIB. Jefferies Financial Group lowered their price objective 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. UBS Group upped 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. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $192.00 price objective on shares of CGI in a research report on Wednesday, March 26th. Two investment 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $156.75.

CGI Stock Down 0.2 %

Shares of GIB stock traded down $0.18 during midday trading on Tuesday, reaching $104.93. 24,672 shares of the stock were exchanged, compared to its average volume of 200,452. The firm has a market cap of $23.79 billion, a PE ratio of 19.00, a price-to-earnings-growth ratio of 2.58 and a beta of 0.78. 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 company's 50 day moving average is $102.59 and its two-hundred day moving average is $109.14. 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 posted its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.50 by ($0.02). The firm had revenue of $2.80 billion during 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 for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.97 EPS. On average, equities research analysts predict that CGI Inc. will post 5.79 EPS for the current 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 issued a $0.1086 dividend. This represents a $0.43 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date is Friday, May 16th. This is a boost from CGI's previous quarterly dividend of $0.10. CGI's dividend payout ratio is 7.47%.

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.