2,877 Shares in CGI Inc. (NYSE:GIB) Bought by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC purchased a new position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,877 shares of the technology company’s stock, valued at approximately $315,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in CGI during the fourth quarter worth approximately $286,970,000. Canoe Financial LP acquired a new position in shares of CGI in the fourth quarter valued at approximately $94,390,000. Arrowstreet Capital Limited Partnership raised its position in CGI by 29.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company’s stock worth $327,007,000 after buying an additional 678,431 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of CGI by 17.3% in the fourth quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company’s stock valued at $419,976,000 after acquiring an additional 567,868 shares in the last quarter. Finally, Barclays PLC increased its position 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 purchasing an additional 308,040 shares during the period. Institutional investors and hedge funds own 66.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Jefferies Financial Group decreased their price objective on shares of CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. UBS Group upped their target price on CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $192.00 price target on shares of CGI in a research note on Wednesday, March 26th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $156.75.

CGI Price Performance

GIB stock opened at $105.87 on Friday. The stock’s 50 day moving average is $102.65 and its two-hundred day moving average is $108.94. CGI Inc. has a 52-week low of $92.85 and a 52-week high of $122.79. The company has a market capitalization of $24.00 billion, a PE ratio of 19.14, a P/E/G ratio of 2.58 and a beta of 0.78. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.02). CGI had a net margin of 11.72% and a return on equity of 19.32%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same period in the prior year, the company posted $1.97 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis. 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 $0.1086 dividend. This represents a $0.43 dividend on an annualized basis and a yield of 0.41%. 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 is 7.47%.

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.