Magnetar Financial LLC Invests $262,000 in CGI Inc. (NYSE:GIB)

Magnetar Financial LLC acquired a new stake in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 2,400 shares of the technology company’s stock, valued at approximately $262,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Caisse DE Depot ET Placement DU Quebec grew its holdings 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 valued at $1,876,550,000 after buying an additional 230,000 shares in the last quarter. National Bank of Canada FI boosted its position in shares of CGI by 23.6% in the third quarter. National Bank of Canada FI now owns 4,513,733 shares of the technology company’s stock valued at $519,072,000 after acquiring an additional 861,771 shares during the period. Bank of Montreal Can grew its stake in CGI by 3.3% during the third quarter. Bank of Montreal Can now owns 3,275,421 shares of the technology company’s stock valued at $373,887,000 after acquiring an additional 104,300 shares in the last quarter. Cibc World Market Inc. increased its holdings in CGI by 2.1% during the 4th quarter. Cibc World Market Inc. now owns 1,978,249 shares of the technology company’s stock worth $216,369,000 after acquiring an additional 40,492 shares during the period. Finally, Geode Capital Management LLC increased its holdings in CGI by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 998,470 shares of the technology company’s stock worth $115,844,000 after acquiring an additional 79,362 shares during the period. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Price Performance

Shares of NYSE:GIB opened at $98.80 on Monday. The company’s fifty day moving average price is $111.15 and its 200-day moving average price is $111.98. 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 has a market capitalization of $22.40 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 2.58 and a beta of 0.96. CGI Inc. has a one year low of $96.92 and a one year high of $122.79.

CGI (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, meeting analysts’ consensus estimates of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. On average, equities research analysts anticipate that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 14th were given a dividend of $0.1039 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.42 dividend on an annualized basis and a yield of 0.42%. CGI’s payout ratio is 7.41%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Jefferies Financial Group cut their price target 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. Royal Bank of Canada reissued an “outperform” rating and set a $178.00 price objective on shares of CGI in a research note on Monday, January 6th. Finally, UBS Group boosted their target price on CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus 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.