5,004 Shares in CGI Inc. (NYSE:GIB) Acquired by Ethic Inc.

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

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ewing Morris & Co. Investment Partners Ltd. acquired a new position in shares of CGI during the 4th quarter worth approximately $987,000. Deutsche Bank AG increased its holdings in CGI by 15.4% in the 4th quarter. Deutsche Bank AG now owns 438,614 shares of the technology company's stock worth $47,949,000 after acquiring an additional 58,407 shares in the last quarter. Cary Street Partners Financial LLC acquired a new position in CGI during the fourth quarter worth $315,000. Balyasny Asset Management L.P. raised its position in CGI by 14.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 29,402 shares of the technology company's stock worth $3,214,000 after acquiring an additional 3,668 shares during the period. Finally, Bank of America Corp DE lifted 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 in the last quarter. Hedge funds and other institutional investors own 66.68% of the company's stock.

CGI Price Performance

Shares of GIB stock traded up $0.28 during trading hours on Wednesday, reaching $108.53. The company had a trading volume of 42,946 shares, compared to its average volume of 200,705. CGI Inc. has a 12-month low of $92.85 and a 12-month high of $122.79. The company has a market capitalization of $24.61 billion, a price-to-earnings ratio of 19.60, 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 stock has a fifty day moving average of $103.24 and a 200-day moving average of $108.70.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last issued its earnings results on Wednesday, April 30th. The technology company reported $1.48 EPS for the quarter, missing analysts' consensus estimates of $1.50 by ($0.02). CGI had a return on equity of 19.32% and a net margin of 11.72%. The firm had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $4.05 billion. During the same period last year, the firm earned $1.97 earnings per share. CGI's revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities analysts anticipate that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 16th will be given a dividend of $0.1086 per share. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.40%. This is an increase from CGI's previous quarterly dividend of $0.10. The ex-dividend date is Friday, May 16th. CGI's dividend payout ratio (DPR) is presently 7.47%.

Analysts Set New Price Targets

Several research firms have commented on GIB. Royal Bank of Canada reiterated an "outperform" rating and set a $192.00 price objective on shares of CGI in a research note 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 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 on the stock 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. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target 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.