Stifel Financial Corp Boosts Stock Position in CGI Inc. (NYSE:GIB)

Stifel Financial Corp increased its position in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 54.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,041 shares of the technology company's stock after acquiring an additional 2,472 shares during the quarter. Stifel Financial Corp's holdings in CGI were worth $770,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GIB. Barclays PLC raised its stake in CGI by 182.6% during the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company's stock valued at $54,808,000 after purchasing an additional 308,040 shares during the period. Blue Trust Inc. lifted its holdings in shares of CGI by 47.6% in the fourth quarter. Blue Trust Inc. now owns 1,163 shares of the technology company's stock worth $134,000 after buying an additional 375 shares in the last quarter. KFA Private Wealth Group LLC boosted its position in shares of CGI by 120.9% during the fourth quarter. KFA Private Wealth Group LLC now owns 12,350 shares of the technology company's stock worth $1,350,000 after acquiring an additional 6,760 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in CGI by 0.5% in the 4th quarter. Bank of New York Mellon Corp now owns 289,654 shares of the technology company's stock worth $31,665,000 after purchasing an additional 1,409 shares in the last quarter. Finally, Sierra Ocean LLC bought a new position in shares of CGI during the 4th quarter valued at about $62,000. Hedge funds and other institutional investors own 66.68% of the company's stock.

CGI Stock Performance

NYSE:GIB opened at $105.87 on Friday. The firm has a market capitalization of $24.00 billion, a PE ratio of 19.14, a PEG ratio of 2.58 and a beta of 0.78. The stock's fifty day moving average is $102.65 and its 200 day moving average is $108.94. CGI Inc. has a fifty-two week low of $92.85 and a fifty-two week high of $122.79. 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 (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 the consensus estimate of $1.50 by ($0.02). The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $4.05 billion. CGI had a return on equity of 19.32% and a net margin of 11.72%. CGI's revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.97 EPS. On average, sell-side analysts anticipate that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Increases Dividend

The firm also recently announced 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. This is a boost from CGI's previous quarterly dividend of $0.10. The ex-dividend date is Friday, May 16th. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.41%. CGI's dividend payout ratio is currently 7.47%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GIB shares. Jefferies Financial Group decreased their target price on CGI from $140.00 to $135.00 and set a "buy" rating on the stock in a research report on Tuesday, January 21st. UBS Group increased their target price on CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $192.00 price target on shares of CGI in a research report on Wednesday, March 26th. Two equities research 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. According to MarketBeat.com, the stock presently has an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.