Andra AP fonden increased its stake in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 45.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 128,500 shares of the technology company's stock after buying an additional 39,935 shares during the period. Andra AP fonden owned about 0.06% of CGI worth $14,048,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Canoe Financial LP purchased a new position in CGI during the fourth quarter worth approximately $94,390,000. National Bank of Canada FI raised its position in shares of CGI by 23.6% during the 3rd quarter. National Bank of Canada FI now owns 4,513,733 shares of the technology company's stock worth $519,072,000 after buying an additional 861,771 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of CGI by 68.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company's stock worth $157,485,000 after purchasing an additional 555,017 shares during the last quarter. Barclays PLC lifted its stake in CGI by 182.6% during the third quarter. Barclays PLC now owns 476,758 shares of the technology company's stock valued at $54,808,000 after buying an additional 308,040 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in CGI by 1.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,290,487 shares of the technology company's stock worth $1,876,550,000 after acquiring an additional 230,000 shares in the last quarter. 66.68% of the stock is currently owned by hedge funds and other institutional investors.
CGI Trading Up 0.1 %
Shares of CGI stock traded up $0.06 on Wednesday, hitting $103.88. The stock had a trading volume of 288,409 shares, compared to its average volume of 264,337. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31. CGI Inc. has a twelve month low of $96.92 and a twelve month high of $122.79. The firm has a market capitalization of $23.55 billion, a P/E ratio of 18.79, a PEG ratio of 2.58 and a beta of 0.96. The stock has a 50 day moving average of $112.27 and a 200 day moving average of $112.53.
CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, meeting analysts' consensus estimates of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. Sell-side analysts expect that CGI Inc. will post 5.79 earnings per share for the current fiscal year.
CGI Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 14th will be paid 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 0.40%. CGI's dividend payout ratio is currently 7.41%.
Wall Street Analysts Forecast Growth
GIB has been the topic of a number of research analyst reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $178.00 target price on shares of CGI in a research note on Monday, January 6th. Jefferies Financial Group dropped their price objective on shares of CGI from $140.00 to $135.00 and set a "buy" rating for the company in a research report on Tuesday, January 21st. UBS Group lifted their price objective on CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Finally, StockNews.com upgraded CGI from a "sell" rating to a "hold" rating in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, CGI currently has a consensus rating of "Buy" and an average price target of $153.25.
Get Our Latest Report on GIB
CGI Company 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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