Bridgewater Associates LP Acquires 14,948 Shares of CGI Inc. (NYSE:GIB)

Bridgewater Associates LP lifted its stake in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 100.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,892 shares of the technology company's stock after acquiring an additional 14,948 shares during the quarter. Bridgewater Associates LP's holdings in CGI were worth $3,269,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in CGI during the third quarter worth $28,000. Sierra Ocean LLC acquired a new stake in shares of CGI in the fourth quarter valued at about $62,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of CGI in the fourth quarter valued at about $83,000. Hoey Investments Inc. acquired a new stake in shares of CGI in the fourth quarter valued at about $99,000. Finally, Blue Trust Inc. grew its position in shares of CGI by 47.6% in the fourth quarter. Blue Trust Inc. now owns 1,163 shares of the technology company's stock valued at $134,000 after purchasing an additional 375 shares during the last quarter. 66.68% of the stock is owned by institutional investors and hedge funds.

CGI Stock Performance

Shares of NYSE GIB traded up $0.26 during trading hours on Wednesday, reaching $106.02. The stock had a trading volume of 111,554 shares, compared to its average volume of 290,302. The business's fifty day moving average is $104.53 and its two-hundred day moving average is $109.79. 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 company has a market cap of $24.04 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 2.58 and a beta of 0.85. CGI Inc. has a twelve month low of $92.85 and a twelve month high of $122.79.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. As a group, research analysts expect that CGI Inc. will post 5.79 EPS for the current year.

CGI Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. UBS Group raised their price target on CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $192.00 price target on shares of CGI in a research report on Wednesday, March 26th. Finally, Jefferies Financial Group reduced their target price on shares of CGI from $140.00 to $135.00 and set a "buy" rating for the company in a research note on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $156.75.

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.