CGI Inc. (NYSE:GIB) Stock Position Lifted by Guardian Capital LP

Guardian Capital LP boosted its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 686,159 shares of the technology company’s stock after acquiring an additional 10,188 shares during the period. CGI accounts for 2.8% of Guardian Capital LP’s holdings, making the stock its 9th biggest position. Guardian Capital LP’s holdings in CGI were worth $75,038,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GIB. 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 valued at $54,808,000 after purchasing an additional 308,040 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of CGI during the third quarter worth about $28,000. DGS Capital Management LLC boosted its position in CGI by 1.8% in the third quarter. DGS Capital Management LLC now owns 31,280 shares of the technology company’s stock valued at $3,596,000 after buying an additional 539 shares during the last quarter. Rempart Asset Management Inc. raised its position in CGI by 0.5% during the 4th quarter. Rempart Asset Management Inc. now owns 188,280 shares of the technology company’s stock worth $20,554,000 after buying an additional 1,015 shares during the last quarter. Finally, Harbour Capital Advisors LLC increased its stake in shares of CGI by 39.4% in the fourth quarter. Harbour Capital Advisors LLC now owns 4,758 shares of the technology company’s stock worth $523,000 after acquiring an additional 1,345 shares during the period. 66.68% of the stock is owned by hedge funds and other institutional investors.

CGI Stock Performance

GIB opened at $107.41 on Wednesday. CGI Inc. has a 52-week low of $92.85 and a 52-week high of $122.79. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The firm’s fifty day simple moving average is $103.18 and its two-hundred day simple moving average is $109.48. The company has a market cap of $24.35 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 2.58 and a beta of 0.85.

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, meeting the consensus estimate of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. Equities analysts anticipate that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GIB shares. Royal Bank of Canada reissued an “outperform” rating and issued a $192.00 price objective on shares of CGI in a report on Wednesday, March 26th. UBS Group lifted their target price on shares of CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, 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 report on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $156.75.

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.