Raymond James Financial Inc. Acquires Shares of 8,458 CGI Inc. (NYSE:GIB)

Raymond James Financial Inc. bought a new stake in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 8,458 shares of the technology company's stock, valued at approximately $925,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Barclays PLC boosted its stake in CGI by 182.6% in the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company's stock worth $54,808,000 after purchasing an additional 308,040 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of CGI during the third quarter valued at approximately $28,000. Rempart Asset Management Inc. raised its holdings in CGI by 0.5% in the 4th quarter. Rempart Asset Management Inc. now owns 188,280 shares of the technology company's stock worth $20,554,000 after acquiring an additional 1,015 shares during the last quarter. Harbour Capital Advisors LLC boosted its stake in CGI by 39.4% during the 4th quarter. Harbour Capital Advisors LLC now owns 4,758 shares of the technology company's stock valued at $523,000 after purchasing an additional 1,345 shares during the last quarter. Finally, Signal Advisors Wealth LLC increased its holdings in shares of CGI by 4.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 3,158 shares of the technology company's stock worth $345,000 after purchasing an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 66.68% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on GIB. UBS Group increased their price objective on CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Jefferies Financial Group decreased their price objective on shares of CGI from $140.00 to $135.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $192.00 target price on shares of CGI in a report on Wednesday, March 26th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, CGI has a consensus rating of "Buy" and a consensus price target of $156.75.

CGI Price Performance

Shares of NYSE GIB traded down $0.36 during midday trading on Friday, reaching $105.87. The stock had a trading volume of 168,047 shares, compared to its average volume of 200,424. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31. CGI Inc. has a 12-month low of $92.85 and a 12-month high of $122.79. The stock has a 50-day moving average of $102.59 and a 200-day moving average of $109.03. The company has a market capitalization of $24.00 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 2.58 and a beta of 0.78.

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). CGI had a net margin of 11.72% and a return on equity of 19.32%. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same period last year, the business posted $1.97 EPS. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, research analysts anticipate that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 16th will be issued a $0.1086 dividend. 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 yield of 0.41%. The ex-dividend date of this dividend is Friday, May 16th. CGI's payout ratio is currently 7.47%.

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.