Geode Capital Management LLC Acquires 274,370 Shares of CGI Inc. (NYSE:GIB)

Geode Capital Management LLC increased its stake in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 27.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,272,840 shares of the technology company's stock after purchasing an additional 274,370 shares during the quarter. Geode Capital Management LLC owned approximately 0.56% of CGI worth $140,266,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Franklin Resources Inc. boosted its position in CGI by 1.6% during the 4th quarter. Franklin Resources Inc. now owns 134,787 shares of the technology company's stock worth $14,729,000 after acquiring an additional 2,075 shares during the period. Hoey Investments Inc. acquired a new stake in shares of CGI during the fourth quarter worth approximately $99,000. Wellington Management Group LLP grew its position in CGI by 5.8% during the fourth quarter. Wellington Management Group LLP now owns 102,080 shares of the technology company's stock valued at $11,163,000 after purchasing an additional 5,564 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in CGI by 840.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,244 shares of the technology company's stock valued at $354,000 after buying an additional 2,899 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in CGI by 29.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company's stock worth $327,007,000 after buying an additional 678,431 shares in the last quarter. Institutional investors and hedge funds own 66.68% of the company's stock.

CGI Stock Performance

Shares of NYSE:GIB traded up $3.82 during midday trading on Friday, hitting $102.03. The company's stock had a trading volume of 410,298 shares, compared to its average volume of 195,299. 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 stock's 50 day simple moving average is $106.77 and its 200 day simple moving average is $110.30. The stock has a market capitalization of $23.13 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 2.58 and a beta of 0.85. CGI Inc. has a fifty-two week low of $92.85 and a fifty-two week high of $122.79.

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 (EPS) for the quarter, meeting 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, research analysts anticipate 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 was paid on Friday, March 21st. Investors of record on Friday, February 14th were given a dividend of $0.1039 per share. This represents a $0.42 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Friday, February 14th. CGI's dividend payout ratio (DPR) is currently 7.41%.

Analysts Set New Price Targets

Several equities analysts have recently commented on GIB shares. UBS Group boosted their price target on shares of CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Royal Bank of Canada reissued an "outperform" rating and set a $192.00 target price on shares of CGI in a research report on Wednesday, March 26th. Finally, Jefferies Financial Group reduced their price target on CGI from $140.00 to $135.00 and set a "buy" rating for the company in a research report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $156.75.

About CGI

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.