Harbor Group Inc. Acquires New Holdings in CGI Inc. (NYSE:GIB)

Harbor Group Inc. acquired a new stake in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 7,368 shares of the technology company's stock, valued at approximately $736,000.

Other institutional investors have also made changes to their positions in the company. Metis Global Partners LLC grew its holdings in 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 buying an additional 108 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in 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 last quarter. Ameriprise Financial Inc. grew its holdings in 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 buying an additional 115 shares during the last quarter. Manhattan West Asset Management LLC grew its holdings in 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 buying an additional 126 shares during the last quarter. Finally, Tidal Investments LLC grew its holdings 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 buying an additional 315 shares during the last quarter. 66.68% of the stock is owned by institutional investors.

CGI Price Performance

Shares of NYSE:GIB opened at $107.58 on Friday. CGI Inc. has a 1-year low of $92.85 and a 1-year high of $122.79. The firm has a market capitalization of $24.39 billion, a PE ratio of 19.45, a PEG ratio of 2.58 and a beta of 0.77. The business's 50 day moving average is $104.76 and its 200-day moving average is $108.39. 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 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). 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 analyst estimates of $4.05 billion. During the same period in the previous year, the business posted $1.97 EPS. CGI's revenue for the quarter was up 7.6% compared to the same quarter last year. Sell-side analysts predict that CGI Inc. will post 5.79 earnings per share for the current 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 given a dividend of $0.1086 per share. This represents a $0.43 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, May 16th. This is an increase from CGI's previous quarterly dividend of $0.10. CGI's dividend payout ratio (DPR) is 7.83%.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reissued an "outperform" rating and set a $192.00 price objective on shares of CGI in a report on Wednesday, March 26th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus 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.

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