Generali Asset Management SPA SGR Acquires New Stake in CGI Inc. (NYSE:GIB)

Generali Asset Management SPA SGR purchased a new stake in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 28,182 shares of the technology company's stock, valued at approximately $3,081,000.

Other hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new stake in CGI in the 3rd quarter valued at $28,000. Sierra Ocean LLC bought a new position in shares of CGI during the fourth quarter valued at $62,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of CGI in the 4th quarter valued at $83,000. Blue Trust Inc. grew its holdings in shares of CGI by 47.6% in the 4th quarter. Blue Trust Inc. now owns 1,163 shares of the technology company's stock worth $134,000 after purchasing an additional 375 shares during the last quarter. Finally, Olympiad Research LP acquired a new stake in shares of CGI during the 4th quarter worth about $203,000. Institutional investors and hedge funds own 66.68% of the company's stock.

CGI Price Performance

Shares of CGI stock traded up $1.38 during midday trading on Monday, reaching $100.12. The company had a trading volume of 343,489 shares, compared to its average volume of 178,895. 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 stock has a fifty day simple moving average of $111.15 and a 200 day simple moving average of $111.98. CGI Inc. has a 1-year low of $96.92 and a 1-year high of $122.79. The company has a market capitalization of $22.70 billion, a price-to-earnings ratio of 18.10, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96.

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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 analysts' consensus estimates of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. As a group, equities research analysts forecast that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders 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 dividend on an annualized basis and a yield of 0.41%. CGI's payout ratio is presently 7.41%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GIB shares. Jefferies Financial Group reduced their price target on shares of 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 price target on CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $178.00 price objective on shares of CGI in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $153.25.

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.