CGI Inc. (NYSE:GIB) Shares Purchased by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury grew its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 0.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 117,431 shares of the technology company’s stock after purchasing an additional 783 shares during the quarter. State of Tennessee Department of Treasury owned 0.05% of CGI worth $12,842,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC boosted its holdings in CGI by 182.6% during the third 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 in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of CGI during the 3rd quarter valued at $28,000. DGS Capital Management LLC boosted its stake in shares of CGI by 1.8% during the 3rd quarter. DGS Capital Management LLC now owns 31,280 shares of the technology company’s stock worth $3,596,000 after acquiring an additional 539 shares in the last quarter. Rempart Asset Management Inc. grew its holdings in shares of 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. Finally, Harbour Capital Advisors LLC raised its position in shares of CGI by 39.4% during the fourth quarter. Harbour Capital Advisors LLC now owns 4,758 shares of the technology company’s stock worth $523,000 after purchasing an additional 1,345 shares during the period. Institutional investors own 66.68% of the company’s stock.

Analysts Set New Price Targets

GIB has been the subject of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $192.00 target price on shares of CGI in a report on Wednesday, March 26th. UBS Group lifted their price objective on shares of CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Jefferies Financial Group reduced their target price on CGI from $140.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $156.75.

CGI Stock Up 1.5 %

GIB opened at $105.80 on Wednesday. The company has a market capitalization of $23.99 billion, a P/E ratio of 19.13, a P/E/G ratio of 2.58 and a beta of 0.85. 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 fifty day moving average price is $104.53 and its two-hundred day moving average price is $109.79. CGI Inc. has a fifty-two week low of $92.85 and a fifty-two week high of $122.79.

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

CGI Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 14th were paid a $0.1039 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.42 annualized dividend and a dividend yield of 0.39%. CGI’s dividend payout ratio is presently 7.41%.

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.