Cumberland Partners Ltd purchased a new stake in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,210 shares of the technology company's stock, valued at approximately $242,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Pembroke Management LTD raised its stake in CGI by 21.4% in the 4th quarter. Pembroke Management LTD now owns 7,709 shares of the technology company's stock valued at $843,000 after acquiring an additional 1,357 shares during the period. Sierra Ocean LLC bought a new stake in shares of CGI in the fourth quarter valued at approximately $62,000. Blue Trust Inc. lifted its stake in shares of CGI by 47.6% during the 4th quarter. Blue Trust Inc. now owns 1,163 shares of the technology company's stock valued at $134,000 after buying an additional 375 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of CGI by 66.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 65,445 shares of the technology company's stock valued at $7,152,000 after buying an additional 26,038 shares in the last quarter. Finally, Lester Murray Antman dba SimplyRich boosted its holdings in CGI by 1.2% in the 4th quarter. Lester Murray Antman dba SimplyRich now owns 30,397 shares of the technology company's stock worth $3,323,000 after buying an additional 350 shares during the period. Institutional investors own 66.68% of the company's stock.
CGI Price Performance
Shares of GIB traded down $4.75 during trading hours on Friday, reaching $112.58. 493,171 shares of the company's stock traded hands, compared to its average volume of 223,273. CGI Inc. has a 12 month low of $96.92 and a 12 month high of $122.79. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28. The stock has a market cap of $25.52 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 2.60 and a beta of 0.94. The firm's 50 day simple moving average is $112.99 and its 200-day simple moving average is $112.52.
CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share (EPS) for the quarter, meeting 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 year.
CGI Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 14th will be given a $0.1039 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.42 annualized dividend and a yield of 0.37%. CGI's dividend payout ratio (DPR) is presently 7.41%.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on GIB shares. UBS Group boosted 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. StockNews.com upgraded CGI from a "sell" rating to a "hold" rating in a research note on Friday, November 15th. Royal Bank of Canada restated an "outperform" rating and issued a $178.00 target price on shares of CGI in a research note on Monday, January 6th. 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 investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $153.25.
Read Our Latest Analysis on GIB
CGI Profile
(
Free Report)
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.
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