Northern Trust Corp Has $21.26 Million Position in CGI Inc. (NYSE:GIB)

Northern Trust Corp raised its position in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 64.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 194,481 shares of the technology company's stock after purchasing an additional 76,175 shares during the quarter. Northern Trust Corp owned about 0.09% of CGI worth $21,261,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Hsbc Holdings PLC raised its stake in CGI by 18.6% during the 4th quarter. Hsbc Holdings PLC now owns 1,032,579 shares of the technology company's stock valued at $112,913,000 after acquiring an additional 161,821 shares in the last quarter. Stifel Financial Corp lifted its holdings in CGI by 54.1% in the fourth quarter. Stifel Financial Corp now owns 7,041 shares of the technology company's stock worth $770,000 after purchasing an additional 2,472 shares during the period. State of Tennessee Department of Treasury grew its position in CGI by 0.7% in the 4th quarter. State of Tennessee Department of Treasury now owns 117,431 shares of the technology company's stock valued at $12,842,000 after buying an additional 783 shares in the last quarter. TD Waterhouse Canada Inc. increased its stake in CGI by 5.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 661,479 shares of the technology company's stock valued at $72,145,000 after buying an additional 35,654 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of CGI by 39.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the technology company's stock worth $631,000 after buying an additional 1,646 shares in the last quarter. Institutional investors own 66.68% of the company's stock.

CGI Stock Up 0.3%

Shares of GIB traded up $0.37 during trading hours on Friday, reaching $108.28. The company's stock had a trading volume of 212,292 shares, compared to its average volume of 200,971. The company has a 50 day moving average of $102.92 and a two-hundred day moving average of $108.81. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The firm has a market cap of $24.55 billion, a price-to-earnings ratio of 19.58, a P/E/G ratio of 2.58 and a beta of 0.78. 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 released 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). CGI had a return on equity of 19.32% and a net margin of 11.72%. The company had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $4.05 billion. During the same quarter in the previous year, the company earned $1.97 EPS. The firm's quarterly revenue was up 7.6% compared to the same quarter last year. As a group, research analysts predict that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GIB shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $192.00 price objective on shares of CGI in a report on Wednesday, March 26th. Jefferies Financial Group lowered their price target on CGI from $140.00 to $135.00 and set a "buy" rating on the stock in a research report on Tuesday, January 21st. Finally, UBS Group upped their price objective on CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Two 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.com, CGI presently has a consensus rating of "Buy" and an average price target of $156.75.

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.