Cibc World Market Inc. raised its holdings in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,978,249 shares of the technology company's stock after buying an additional 40,492 shares during the quarter. Cibc World Market Inc. owned about 0.87% of CGI worth $216,369,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of GIB. Wilmington Savings Fund Society FSB purchased a new stake in CGI in the third quarter worth approximately $28,000. Blue Trust Inc. lifted its position in shares of CGI by 288.2% in the 3rd quarter. Blue Trust Inc. now owns 788 shares of the technology company's stock worth $91,000 after purchasing an additional 585 shares during the period. CWM LLC boosted its position 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 acquiring an additional 176 shares in the last quarter. Werba Rubin Papier Wealth Management purchased a new stake in CGI in the third quarter worth $208,000. Finally, Thrivent Financial for Lutherans bought a new position in shares of CGI in the 3rd quarter worth about $209,000. 66.68% of the stock is owned by hedge funds and other institutional investors.
CGI Trading Down 0.0 %
Shares of GIB stock traded down $0.01 during trading hours on Tuesday, reaching $118.14. 165,321 shares of the stock were exchanged, compared to its average volume of 196,881. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $26.78 billion, a price-to-earnings ratio of 21.40, a price-to-earnings-growth ratio of 2.59 and a beta of 0.94. CGI Inc. has a 12-month low of $96.92 and a 12-month high of $121.55. The company's 50-day moving average price is $111.19 and its 200-day moving average price is $111.55.
CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last released its 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 anticipate that CGI Inc. will post 5.79 earnings per share for the current year.
CGI Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 14th will be given a dividend of $0.1039 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend is Friday, February 14th. CGI's payout ratio is 8.32%.
Analyst Ratings Changes
Several research analysts have issued reports on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $178.00 target price on shares of CGI in a report on Monday, January 6th. Cibc World Mkts upgraded CGI from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 15th. Jefferies Financial Group dropped their target price on shares of CGI from $140.00 to $135.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. 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 report on Monday. Finally, StockNews.com raised CGI from a "sell" rating to a "hold" rating in a report on Friday, November 15th. 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's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $153.25.
Check Out Our Latest Analysis on GIB
About CGI
(
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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