Ethic Inc. Acquires New Shares in CGI Inc. (NYSE:GIB)

Ethic Inc. bought a new position in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,004 shares of the technology company's stock, valued at approximately $547,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in CGI in the 4th quarter worth $286,970,000. Canoe Financial LP bought a new stake in shares of CGI in the fourth quarter worth about $94,390,000. Arrowstreet Capital Limited Partnership lifted its position in shares of CGI by 29.3% in 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 in the last quarter. 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 valued at $419,976,000 after buying an additional 567,868 shares during the last quarter. Finally, Barclays PLC grew its holdings in CGI by 182.6% during the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company's stock valued at $54,808,000 after buying an additional 308,040 shares in the last quarter. Institutional investors own 66.68% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on GIB. UBS Group lifted their price objective on CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Jefferies Financial Group reduced their price target on shares of 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 set a $192.00 price target on shares of CGI in a research note on Wednesday, March 26th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, CGI has an average rating of "Buy" and an average target price of $156.75.

CGI Trading Up 0.3%

GIB stock traded up $0.35 during mid-day trading on Tuesday, reaching $108.43. 126,258 shares of the stock traded hands, compared to its average volume of 283,585. CGI Inc. has a one year low of $92.85 and a one year high of $122.79. The stock has a market capitalization of $24.58 billion, a PE ratio of 19.51, a PEG ratio of 2.58 and a beta of 0.78. 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 business has a 50-day moving average price of $103.09 and a two-hundred day moving average price of $108.70.

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 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%. CGI's revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.97 earnings per share. Equities research analysts expect that CGI Inc. will post 5.79 EPS for the current year.

CGI Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 16th will be given a $0.1086 dividend. This represents a $0.43 annualized dividend and a yield of 0.40%. This is a boost from CGI's previous quarterly dividend of $0.10. The ex-dividend date is Friday, May 16th. CGI's payout ratio 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.