BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 780,370 Shares of CGI Inc. (NYSE:GIB)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 1,190.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 845,916 shares of the technology company's stock after acquiring an additional 780,370 shares during the period. CGI makes up about 0.6% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's investment portfolio, making the stock its 29th biggest position. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.37% of CGI worth $92,438,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vident Advisory LLC boosted its holdings in shares of CGI by 43.0% in the 4th quarter. Vident Advisory LLC now owns 7,239 shares of the technology company's stock worth $792,000 after acquiring an additional 2,177 shares in the last quarter. Tidal Investments LLC raised its position in CGI by 10.4% in the 4th quarter. Tidal Investments LLC now owns 3,337 shares of the technology company's stock valued at $365,000 after purchasing an additional 315 shares during the last quarter. Quantinno Capital Management LP boosted its stake in CGI by 12.3% in the fourth quarter. Quantinno Capital Management LP now owns 18,156 shares of the technology company's stock worth $1,985,000 after purchasing an additional 1,991 shares in the last quarter. Man Group plc boosted its stake in CGI by 229.7% in the fourth quarter. Man Group plc now owns 88,171 shares of the technology company's stock worth $9,642,000 after purchasing an additional 61,427 shares in the last quarter. Finally, Numerai GP LLC grew its holdings in shares of CGI by 284.3% during the fourth quarter. Numerai GP LLC now owns 53,650 shares of the technology company's stock worth $5,865,000 after purchasing an additional 39,688 shares during the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $192.00 price target on shares of CGI in a research note on Wednesday, March 26th. UBS Group upped their price objective on CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Two equities 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $156.75.

CGI Stock Performance

GIB stock traded down $0.39 during trading hours on Monday, reaching $106.32. The stock had a trading volume of 257,431 shares, compared to its average volume of 201,931. The stock has a 50-day simple moving average of $103.44 and a 200 day simple moving average of $108.55. CGI Inc. has a fifty-two week low of $92.85 and a fifty-two week high of $122.79. The stock has a market capitalization of $24.11 billion, a PE ratio of 19.23, a price-to-earnings-growth 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.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last issued its earnings results on Wednesday, April 30th. The technology company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the business posted $1.97 earnings per share. Analysts predict that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 16th will be paid a $0.1086 dividend. This represents a $0.43 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Friday, May 16th. This is a boost from CGI's previous quarterly dividend of $0.10. CGI's dividend 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.