JPMorgan Chase & Co. Grows Holdings in CGI Inc. (NYSE:GIB)

JPMorgan Chase & Co. grew its holdings in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 5.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 931,992 shares of the technology company's stock after purchasing an additional 49,362 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.41% of CGI worth $101,885,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Thrivent Financial for Lutherans purchased a new stake in CGI during the third quarter worth about $209,000. Cerity Partners LLC increased its stake in shares of CGI by 60.2% during the 3rd quarter. Cerity Partners LLC now owns 7,379 shares of the technology company's stock worth $848,000 after purchasing an additional 2,772 shares during the last quarter. Townsquare Capital LLC bought a new stake in shares of CGI in the 3rd quarter worth approximately $281,000. Glenmede Trust Co. NA bought a new position in CGI during the third quarter valued at $273,000. Finally, Verition Fund Management LLC bought a new position in CGI during the third quarter valued at $307,000. 66.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GIB shares. Royal Bank of Canada restated an "outperform" rating and issued a $192.00 price objective on shares of CGI in a research note on Wednesday, March 26th. 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 research report on Monday, February 3rd. Finally, Jefferies Financial Group cut their price objective 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. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $156.75.

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CGI Price Performance

Shares of CGI stock traded down $3.83 on Friday, reaching $96.51. The stock had a trading volume of 428,254 shares, compared to its average volume of 187,788. The business's 50 day moving average is $109.53 and its two-hundred day moving average is $111.15. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28. CGI Inc. has a 1 year low of $95.81 and a 1 year high of $122.79. The company has a market cap of $21.88 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last posted its earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. As a group, research analysts anticipate that CGI Inc. will post 5.79 EPS for the current year.

CGI Announces Dividend

The firm 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 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Friday, February 14th. CGI's payout ratio is 7.41%.

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.