Wellington Management Group LLP Purchases 5,564 Shares of CGI Inc. (NYSE:GIB)

Wellington Management Group LLP increased its position in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 5.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,080 shares of the technology company's stock after buying an additional 5,564 shares during the period. Wellington Management Group LLP's holdings in CGI were worth $11,163,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Metis Global Partners LLC increased its position 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 worth $1,153,000 after purchasing an additional 108 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of CGI by 0.4% in the 4th quarter. Sequoia Financial Advisors LLC now owns 31,209 shares of the technology company's stock valued at $3,412,000 after buying an additional 111 shares during the period. Ameriprise Financial Inc. raised its stake in CGI by 0.9% during the fourth quarter. Ameriprise Financial Inc. now owns 12,619 shares of the technology company's stock worth $1,380,000 after acquiring an additional 115 shares during the period. Manhattan West Asset Management LLC lifted its holdings in CGI by 0.5% in the fourth quarter. Manhattan West Asset Management LLC now owns 25,425 shares of the technology company's stock worth $2,779,000 after acquiring an additional 126 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in CGI by 10.4% in the fourth quarter. Tidal Investments LLC now owns 3,337 shares of the technology company's stock valued at $365,000 after acquiring an additional 315 shares during the period. 66.68% of the stock is owned by hedge funds and other institutional investors.

CGI Stock Down 0.2%

NYSE GIB traded down $0.19 during trading on Thursday, hitting $107.58. 175,175 shares of the company traded hands, compared to its average volume of 202,432. CGI Inc. has a 12 month low of $92.85 and a 12 month high of $122.79. The business has a fifty day simple moving average of $104.61 and a 200 day simple moving average of $108.41. The company has a market capitalization of $24.39 billion, a P/E ratio of 19.45, a PEG 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.

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 (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 analyst estimates of $4.05 billion. CGI had a net margin of 11.72% and a return on equity of 19.32%. The business's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.97 earnings per share. As a group, sell-side analysts predict that CGI Inc. will post 5.79 EPS for the current year.

CGI Increases Dividend

The company 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. The ex-dividend date is Friday, May 16th. 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. CGI's dividend payout ratio (DPR) is currently 7.47%.

Analyst Ratings Changes

Separately, Royal Bank of Canada reissued an "outperform" rating and set a $192.00 target price on shares of CGI in a research note on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price 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.