Skandinaviska Enskilda Banken AB publ Purchases 20,195 Shares of CGI Inc. (NYSE:GIB)

Skandinaviska Enskilda Banken AB publ lifted its position in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 65.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,206 shares of the technology company's stock after purchasing an additional 20,195 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in CGI were worth $5,597,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC increased its position in CGI by 0.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 31,209 shares of the technology company's stock worth $3,412,000 after buying an additional 111 shares during the period. PCJ Investment Counsel Ltd. increased its position in CGI by 3.1% during the fourth quarter. PCJ Investment Counsel Ltd. now owns 10,960 shares of the technology company's stock worth $1,198,000 after acquiring an additional 330 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. raised its stake in CGI by 26.1% in the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 490,663 shares of the technology company's stock worth $53,617,000 after purchasing an additional 101,475 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in CGI in the 4th quarter valued at about $83,000. Finally, Andra AP fonden increased its holdings in shares of CGI by 45.1% during the fourth quarter. Andra AP fonden now owns 128,500 shares of the technology company's stock worth $14,048,000 after purchasing an additional 39,935 shares during the period. 66.68% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

GIB has been the topic of a number of analyst reports. Jefferies Financial Group reduced their price target on CGI from $140.00 to $135.00 and set a "buy" rating on the stock in a research report on Tuesday, January 21st. UBS Group increased their target price on CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $178.00 price target on shares of CGI in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $153.25.

CGI Price Performance

GIB stock traded up $0.15 during trading on Wednesday, reaching $103.51. 245,156 shares of the company were exchanged, compared to its average volume of 175,879. The company has a market capitalization of $23.47 billion, a price-to-earnings ratio of 18.72, a P/E/G ratio of 2.58 and a beta of 0.96. 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 50-day moving average of $111.66 and a two-hundred day moving average of $112.24. CGI Inc. has a twelve month low of $96.92 and a twelve month high of $122.79.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share 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, equities analysts predict 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 will be paid on Friday, March 21st. Shareholders of record on Friday, February 14th will be given a $0.1039 dividend. This represents a $0.42 annualized dividend and a yield of 0.40%. The ex-dividend date is Friday, February 14th. CGI's dividend payout ratio (DPR) is currently 7.41%.

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.