Grantham Mayo Van Otterloo & Co. LLC Invests $3.43 Million in CGI Inc. (NYSE:GIB)

Grantham Mayo Van Otterloo & Co. LLC bought a new stake in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 31,400 shares of the technology company's stock, valued at approximately $3,434,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank bought a new stake in CGI during the fourth quarter valued at $286,970,000. Canoe Financial LP bought a new stake in shares of CGI during the 4th quarter valued at about $94,390,000. Arrowstreet Capital Limited Partnership boosted its position in shares of CGI by 29.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company's stock valued at $327,007,000 after acquiring an additional 678,431 shares during the last quarter. Barclays PLC grew its holdings in shares of CGI by 182.6% during the third quarter. Barclays PLC now owns 476,758 shares of the technology company's stock worth $54,808,000 after purchasing an additional 308,040 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of CGI by 27.5% in the fourth quarter. Geode Capital Management LLC now owns 1,272,840 shares of the technology company's stock worth $140,266,000 after purchasing an additional 274,370 shares during the last quarter. 66.68% of the stock is currently owned by institutional investors.

CGI Trading Up 3.9 %

NYSE:GIB traded up $3.82 during trading hours on Friday, reaching $102.03. The company's stock had a trading volume of 410,298 shares, compared to its average volume of 195,366. The firm has a 50-day simple moving average of $106.77 and a 200-day simple moving average of $110.26. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31. CGI Inc. has a 1 year low of $92.85 and a 1 year high of $122.79. The firm 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 (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, meeting analysts' consensus estimates of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. Research analysts expect that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 14th were paid a dividend of $0.1039 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Friday, February 14th. CGI's dividend payout ratio (DPR) is presently 7.41%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Jefferies Financial Group cut their price target on shares of CGI from $140.00 to $135.00 and set a "buy" rating for the company in a research note on Tuesday, January 21st. Royal Bank of Canada reissued an "outperform" rating and issued a $192.00 target price on shares of CGI in a research note on Wednesday, March 26th. Finally, UBS Group lifted their price target on CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Two equities 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, CGI has a consensus rating of "Buy" and an average price target 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.