CGI Inc. (NYSE:GIB) Shares Bought by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC grew its holdings in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 840.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,244 shares of the technology company's stock after purchasing an additional 2,899 shares during the period. CIBC Private Wealth Group LLC's holdings in CGI were worth $354,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Thrivent Financial for Lutherans bought a new stake in CGI in the 3rd quarter worth approximately $209,000. Townsquare Capital LLC purchased a new stake in CGI in the 3rd quarter worth $281,000. Verition Fund Management LLC purchased a new stake in CGI in the 3rd quarter worth $307,000. Quantinno Capital Management LP raised its position in shares of CGI by 6.6% during the 3rd quarter. Quantinno Capital Management LP now owns 16,165 shares of the technology company's stock valued at $1,861,000 after buying an additional 1,001 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of CGI by 21.1% during the 3rd quarter. Wellington Management Group LLP now owns 96,516 shares of the technology company's stock valued at $11,118,000 after buying an additional 16,844 shares in the last quarter. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GIB. Royal Bank of Canada reiterated an "outperform" rating and set a $192.00 price target on shares of CGI in a report on Wednesday, March 26th. Jefferies Financial Group dropped their price objective on shares of CGI from $140.00 to $135.00 and set a "buy" rating on the stock in a research note on Tuesday, January 21st. Finally, UBS Group increased their price objective on shares of CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Two 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 company. According to MarketBeat, CGI presently has an average rating of "Buy" and a consensus target price of $156.75.

CGI Stock Performance

Shares of CGI stock traded down $3.46 during trading on Thursday, hitting $98.42. 70,541 shares of the company's stock were exchanged, compared to its average volume of 192,780. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31. The business has a 50-day simple moving average of $107.50 and a 200-day simple moving average of $110.50. CGI Inc. has a 52-week low of $92.85 and a 52-week high of $122.79. The stock has a market capitalization of $22.32 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.58 and a beta of 0.85.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last issued 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%. On average, research analysts forecast that CGI Inc. will post 5.79 EPS for the current year.

CGI Dividend Announcement

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

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.