Northern Trust Corp Purchases 76,175 Shares of CGI Inc. (NYSE:GIB)

Northern Trust Corp raised its position in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 64.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 194,481 shares of the technology company's stock after acquiring an additional 76,175 shares during the period. Northern Trust Corp owned approximately 0.09% of CGI worth $21,261,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GIB. Norges Bank bought a new stake in shares of CGI during the fourth quarter worth approximately $286,970,000. Canoe Financial LP bought a new stake in shares of CGI in the fourth quarter valued at approximately $94,390,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of CGI by 29.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company's stock valued at $327,007,000 after buying an additional 678,431 shares during the period. Bank of Montreal Can boosted its stake in shares of CGI by 17.3% in the fourth 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. Finally, Barclays PLC boosted its stake in shares of CGI by 182.6% in the third quarter. Barclays PLC now owns 476,758 shares of the technology company's stock valued at $54,808,000 after buying an additional 308,040 shares during the period. Institutional investors own 66.68% of the company's stock.

Analyst Upgrades and Downgrades

GIB has been the subject of several recent analyst reports. Jefferies Financial Group cut their target price on CGI from $140.00 to $135.00 and set a "buy" rating for the company in a research note on Tuesday, January 21st. Royal Bank of Canada restated an "outperform" rating and set a $192.00 target price on shares of CGI in a research note on Wednesday, March 26th. Finally, UBS Group upped their target price on CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Two equities research 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 company's stock. According to MarketBeat.com, CGI currently has an average rating of "Buy" and an average price target of $156.75.

CGI Price Performance

Shares of NYSE:GIB traded up $0.37 during trading on Friday, hitting $108.28. 212,292 shares of the company were exchanged, compared to its average volume of 201,329. The business's 50 day moving average is $103.00 and its 200-day moving average is $108.72. The company has a market capitalization of $24.55 billion, a P/E ratio of 19.58, a price-to-earnings-growth ratio of 2.58 and a beta of 0.78. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. CGI Inc. has a 1-year low of $92.85 and a 1-year high of $122.79.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its quarterly 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 company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $4.05 billion. CGI had a return on equity of 19.32% and a net margin of 11.72%. The firm's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the company posted $1.97 earnings per share. Equities analysts forecast that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.1086 per share. The ex-dividend date is Friday, May 16th. This is an increase from CGI's previous quarterly dividend of $0.10. This represents a $0.43 annualized dividend and a dividend yield of 0.40%. CGI's dividend payout ratio is 7.47%.

CGI Company 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.