Metis Global Partners LLC Raises Stock Position in CGI Inc. (NYSE:GIB)

Metis Global Partners LLC grew its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 1.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 10,534 shares of the technology company’s stock after purchasing an additional 108 shares during the quarter. Metis Global Partners LLC’s holdings in CGI were worth $1,153,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in GIB. Canoe Financial LP purchased a new position in shares of CGI in the 4th quarter valued at $94,390,000. National Bank of Canada FI increased its stake in CGI by 23.6% during the 3rd quarter. National Bank of Canada FI now owns 4,513,733 shares of the technology company’s stock worth $519,072,000 after buying an additional 861,771 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in CGI by 68.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock worth $157,485,000 after buying an additional 555,017 shares during the period. Barclays PLC increased its stake in CGI by 182.6% during the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock worth $54,808,000 after buying an additional 308,040 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in CGI by 1.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,290,487 shares of the technology company’s stock worth $1,876,550,000 after buying an additional 230,000 shares during the period. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Price Performance

GIB opened at $103.08 on Tuesday. The company has a 50-day moving average of $112.99 and a 200-day moving average of $112.75. The company has a market capitalization of $23.37 billion, a P/E ratio of 18.64, a PEG ratio of 2.58 and a beta of 0.94. CGI Inc. has a 1-year low of $96.92 and a 1-year 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) (TSE:GIB.A) last released its earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share for the quarter, hitting the consensus estimate of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. Equities analysts expect that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 14th will be given a $0.1039 dividend. This represents a $0.42 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is Friday, February 14th. CGI’s payout ratio is currently 7.41%.

Analyst Upgrades and Downgrades

GIB has been the topic of several analyst reports. Jefferies Financial Group dropped their price target on shares of CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $178.00 price target on shares of CGI in a research note on Monday, January 6th. StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Finally, UBS Group lifted their price target on shares of 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, three have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, CGI has a consensus rating of “Buy” and an average price target of $153.25.

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.