Hsbc Holdings PLC Has $112.91 Million Holdings in CGI Inc. (NYSE:GIB)

Hsbc Holdings PLC grew its stake in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 18.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,032,579 shares of the technology company's stock after purchasing an additional 161,821 shares during the period. Hsbc Holdings PLC owned about 0.46% of CGI worth $112,913,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of CGI by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 7,942,779 shares of the technology company's stock worth $869,067,000 after buying an additional 128,285 shares during the last quarter. Bank of Montreal Can grew its position in CGI by 17.3% during the 4th quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company's stock worth $419,976,000 after acquiring an additional 567,868 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in CGI by 29.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company's stock worth $327,007,000 after acquiring an additional 678,431 shares during the last quarter. Norges Bank acquired a new position in CGI in the 4th quarter worth about $286,970,000. Finally, TD Asset Management Inc. raised its position in CGI by 3.5% in the fourth quarter. TD Asset Management Inc. now owns 2,383,862 shares of the technology company's stock valued at $260,697,000 after purchasing an additional 81,440 shares during the last quarter. 66.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Jefferies Financial Group lowered their price objective on 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 reiterated an "outperform" rating and set a $192.00 price target on shares of CGI in a report on Wednesday, March 26th. Finally, UBS Group increased their price objective on CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, CGI presently has a consensus rating of "Buy" and a consensus target price of $156.75.

CGI Trading Up 0.5 %

NYSE GIB traded up $0.53 during mid-day trading on Monday, reaching $106.00. 232,423 shares of the stock were exchanged, compared to its average volume of 291,702. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.04. The stock has a 50 day simple moving average of $103.63 and a 200-day simple moving average of $109.56. CGI Inc. has a one year low of $92.85 and a one year high of $122.79. The stock has a market cap of $24.03 billion, a P/E ratio of 19.17, a P/E/G ratio of 2.58 and a beta of 0.85.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share (EPS) 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%. On average, analysts anticipate that CGI Inc. will post 5.79 EPS for the current year.

CGI Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 14th were issued a $0.1039 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend was Friday, February 14th. CGI's payout ratio is 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.