Man Group plc Acquires 61,427 Shares of CGI Inc. (NYSE:GIB)

Man Group plc raised its position in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 229.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,171 shares of the technology company's stock after buying an additional 61,427 shares during the period. Man Group plc's holdings in CGI were worth $9,642,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Metis Global Partners LLC lifted its stake in shares of CGI by 1.0% in the 4th quarter. Metis Global Partners LLC now owns 10,534 shares of the technology company's stock valued at $1,153,000 after purchasing an additional 108 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of CGI by 0.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 31,209 shares of the technology company's stock worth $3,412,000 after buying an additional 111 shares during the period. Ameriprise Financial Inc. increased its stake in shares of CGI by 0.9% in the 4th quarter. Ameriprise Financial Inc. now owns 12,619 shares of the technology company's stock valued at $1,380,000 after acquiring an additional 115 shares during the last quarter. Manhattan West Asset Management LLC increased its stake in shares of CGI by 0.5% in the 4th quarter. Manhattan West Asset Management LLC now owns 25,425 shares of the technology company's stock valued at $2,779,000 after acquiring an additional 126 shares during the last quarter. Finally, Townsquare Capital LLC raised its position in shares of CGI by 13.3% in the 4th quarter. Townsquare Capital LLC now owns 2,768 shares of the technology company's stock valued at $303,000 after acquiring an additional 325 shares during the period. 66.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $192.00 target price on shares of CGI in a report on Wednesday, March 26th. UBS Group increased their target price on CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, CGI presently has an average rating of "Buy" and an average price target of $156.75.

CGI Stock Down 0.8%

Shares of NYSE:GIB traded down $0.88 during trading on Thursday, hitting $106.71. 176,960 shares of the company were exchanged, compared to its average volume of 201,402. The stock has a market cap of $24.20 billion, a price-to-earnings ratio of 19.30, 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 firm has a fifty day moving average price of $103.34 and a two-hundred day moving average price of $108.69. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last posted its earnings results on Wednesday, April 30th. The technology company reported $1.48 earnings per share 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 business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same period in the previous year, the firm posted $1.97 earnings per share. The firm's revenue was up 7.6% compared to the same quarter last year. As a group, research analysts anticipate that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Increases Dividend

The business 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. The ex-dividend date of this dividend is Friday, May 16th. This is a boost from CGI's previous quarterly dividend of $0.10. This represents a $0.43 annualized dividend and a yield of 0.41%. CGI's dividend payout ratio is presently 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.