Allspring Global Investments Holdings LLC Boosts Stock Holdings in CGI Inc. (NYSE:GIB)

Allspring Global Investments Holdings LLC raised its position in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 66.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,445 shares of the technology company's stock after acquiring an additional 26,038 shares during the period. Allspring Global Investments Holdings LLC's holdings in CGI were worth $7,152,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Crestwood Advisors Group LLC raised its holdings in shares of CGI by 2.4% in the 3rd quarter. Crestwood Advisors Group LLC now owns 4,222 shares of the technology company's stock worth $485,000 after buying an additional 97 shares in the last quarter. West Family Investments Inc. increased its holdings in CGI by 5.5% during the 3rd quarter. West Family Investments Inc. now owns 2,323 shares of the technology company's stock valued at $267,000 after purchasing an additional 121 shares in the last quarter. Signal Advisors Wealth LLC increased its holdings in CGI by 4.5% during the 4th quarter. Signal Advisors Wealth LLC now owns 3,158 shares of the technology company's stock valued at $345,000 after purchasing an additional 135 shares in the last quarter. CWM LLC increased its holdings in CGI by 14.8% during the 3rd quarter. CWM LLC now owns 1,365 shares of the technology company's stock valued at $157,000 after purchasing an additional 176 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in CGI by 0.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 31,098 shares of the technology company's stock valued at $3,575,000 after purchasing an additional 181 shares in the last quarter. Institutional investors and hedge funds own 66.68% of the company's stock.

CGI Price Performance

NYSE:GIB traded down $3.98 during midday trading on Friday, hitting $113.34. The company had a trading volume of 273,542 shares, compared to its average volume of 216,176. CGI Inc. has a 52-week low of $96.92 and a 52-week high of $122.79. The stock's fifty day moving average price is $112.99 and its 200-day moving average price is $112.52. The company has a market capitalization of $25.70 billion, a PE ratio of 20.48, a P/E/G ratio of 2.60 and a beta of 0.94. 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 - 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, hitting the consensus estimate of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. As a group, research analysts expect that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Announces Dividend

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%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group dropped their price target on CGI from $140.00 to $135.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $178.00 target price on shares of CGI in a research report on Monday, January 6th. UBS Group increased their price target on CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Finally, StockNews.com raised shares of 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 given 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 a consensus target price of $153.25.

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.