Stifel Financial Corp Purchases 2,472 Shares of CGI Inc. (NYSE:GIB)

Stifel Financial Corp lifted 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 SEC. The institutional investor owned 7,041 shares of the technology company's stock after acquiring an additional 2,472 shares during the period. Stifel Financial Corp's holdings in CGI were worth $770,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of CGI in the fourth quarter worth $286,970,000. Canoe Financial LP purchased a new position in shares of CGI in the fourth quarter valued at about $94,390,000. Arrowstreet Capital Limited Partnership boosted its stake in CGI by 29.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company's stock worth $327,007,000 after purchasing an additional 678,431 shares during the period. Bank of Montreal Can boosted its holdings in shares of CGI by 17.3% during 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 purchasing an additional 567,868 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of 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 acquiring an additional 308,040 shares during the last quarter. 66.68% of the stock is owned by hedge funds and other institutional investors.

CGI Stock Up 1.0%

Shares of GIB stock traded up $1.06 during mid-day trading on Thursday, hitting $107.89. The stock had a trading volume of 39,284 shares, compared to its average volume of 200,485. CGI Inc. has a 12-month low of $92.85 and a 12-month 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 firm's 50-day moving average is $102.85 and its two-hundred day moving average is $108.85. The firm has a market capitalization of $24.46 billion, a P/E ratio of 19.49, 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 released its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.50 by ($0.02). The business had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $4.05 billion. CGI had a return on equity of 19.32% and a net margin of 11.72%. The firm's revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company earned $1.97 earnings per share. On average, analysts predict that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 16th will be issued a dividend of $0.1086 per share. This represents a $0.43 annualized dividend and a yield of 0.40%. This is a positive change from CGI's previous quarterly dividend of $0.10. The ex-dividend date is Friday, May 16th. CGI's dividend payout ratio (DPR) is presently 7.47%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GIB shares. Jefferies Financial Group decreased their price objective 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 stock a "neutral" rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $192.00 target price on shares of CGI in a research note on Wednesday, March 26th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, CGI currently has an average rating of "Buy" and an average target price 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.