Ewing Morris & Co. Investment Partners Ltd. purchased a new stake in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 9,032 shares of the technology company's stock, valued at approximately $987,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GIB. Norges Bank acquired a new position in CGI in the fourth quarter valued at $286,970,000. Canoe Financial LP acquired a new position in CGI in the fourth quarter valued at $94,390,000. Arrowstreet Capital Limited Partnership increased its stake in CGI by 29.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company's stock valued at $327,007,000 after purchasing an additional 678,431 shares during the period. Bank of Montreal Can increased its stake in CGI by 17.3% in 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 purchasing an additional 567,868 shares during the period. Finally, Barclays PLC increased its stake in CGI by 182.6% in the third quarter. Barclays PLC now owns 476,758 shares of the technology company's stock valued at $54,808,000 after purchasing an additional 308,040 shares during the period. Hedge funds and other institutional investors own 66.68% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $192.00 price target on shares of CGI in a research note on Wednesday, March 26th. Jefferies Financial Group dropped their price target 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. Finally, UBS Group boosted their price target 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. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $156.75.
View Our Latest Research Report on CGI
CGI Stock Down 0.3%
CGI stock traded down $0.36 during midday trading on Friday, hitting $105.87. 168,047 shares of the stock were exchanged, compared to its average volume of 200,513. CGI Inc. has a 1 year low of $92.85 and a 1 year high of $122.79. The firm has a market cap of $24.00 billion, a P/E ratio of 19.14, a P/E/G ratio of 2.58 and a beta of 0.78. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.04. The company has a 50 day moving average price of $102.65 and a two-hundred day moving average price of $108.91.
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 for the quarter, missing the consensus estimate of $1.50 by ($0.02). The company 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%. CGI's revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.97 earnings per share. On average, sell-side analysts predict that CGI Inc. will post 5.79 earnings per share for the current fiscal year.
CGI Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 16th will be issued 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 annualized dividend and a dividend yield of 0.41%. CGI's payout ratio is 7.47%.
CGI Profile
(
Free Report)
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.
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