Hsbc Holdings PLC grew its stake in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 18.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,032,579 shares of the technology company's stock after acquiring an additional 161,821 shares during the quarter. Hsbc Holdings PLC owned about 0.46% of CGI worth $112,913,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in GIB. Vanguard Group Inc. grew its position in shares of CGI by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 7,942,779 shares of the technology company's stock valued at $869,067,000 after purchasing an additional 128,285 shares during the period. Bank of Montreal Can grew its holdings in CGI by 17.3% in the 4th quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company's stock valued at $419,976,000 after buying an additional 567,868 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of CGI by 29.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company's stock valued at $327,007,000 after acquiring an additional 678,431 shares during the last quarter. Norges Bank purchased a new position in shares of CGI during the 4th quarter worth about $286,970,000. Finally, TD Asset Management Inc. boosted its position in shares of CGI by 3.5% in the fourth quarter. TD Asset Management Inc. now owns 2,383,862 shares of the technology company's stock worth $260,697,000 after acquiring an additional 81,440 shares during the last quarter. Institutional investors and hedge funds own 66.68% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have recently commented on GIB. Royal Bank of Canada restated an "outperform" rating and set a $192.00 price objective on shares of CGI in a report on Wednesday, March 26th. Jefferies Financial Group lowered their price objective on CGI from $140.00 to $135.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. Finally, 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 research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, CGI has an average rating of "Buy" and a consensus target price of $156.75.
Check Out Our Latest Report on CGI
CGI Trading Up 0.7 %
NYSE GIB traded up $0.76 on Tuesday, hitting $106.67. 100,381 shares of the stock were exchanged, compared to its average volume of 197,644. The company has a market capitalization of $24.19 billion, a price-to-earnings ratio of 19.27, a P/E/G ratio of 2.58 and a beta of 0.85. CGI Inc. has a 52-week low of $92.85 and a 52-week high of $122.79. 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's 50-day moving average price is $103.38 and its two-hundred day moving average price is $109.49.
CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last released its earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share for the quarter, meeting the consensus estimate of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. Research analysts predict that CGI Inc. will post 5.79 EPS for the current year.
CGI Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 14th were given a $0.1039 dividend. This represents a $0.42 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend was Friday, February 14th. CGI's payout ratio is currently 7.41%.
About CGI
(
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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