JPMorgan Chase & Co. Acquires 49,362 Shares of CGI Inc. (NYSE:GIB)

JPMorgan Chase & Co. grew its position in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 931,992 shares of the technology company's stock after buying an additional 49,362 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.41% of CGI worth $101,885,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of GIB. Mufg Securities Canada LTD. raised its position in CGI by 72.1% in the 4th quarter. Mufg Securities Canada LTD. now owns 311,295 shares of the technology company's stock valued at $34,038,000 after purchasing an additional 130,379 shares during the last quarter. TD Asset Management Inc. raised its holdings in shares of 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 buying an additional 81,440 shares during the last quarter. Prudential Financial Inc. lifted its position in CGI by 158.0% during the 4th quarter. Prudential Financial Inc. now owns 17,400 shares of the technology company's stock worth $1,903,000 after buying an additional 10,655 shares in the last quarter. Vanguard Group Inc. grew its holdings in CGI by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 7,942,779 shares of the technology company's stock worth $869,067,000 after acquiring an additional 128,285 shares during the last quarter. Finally, Guardian Partners Inc. acquired a new stake in CGI in the 4th quarter valued at about $1,511,000. Institutional investors own 66.68% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GIB shares. Royal Bank of Canada reiterated an "outperform" rating and set a $192.00 target price on shares of CGI in a research report on Wednesday, March 26th. UBS Group upped their price objective on CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Finally, Jefferies Financial Group lowered their target price on CGI from $140.00 to $135.00 and set a "buy" rating for the company in a research note on Tuesday, January 21st. 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 company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $156.75.

CGI Trading Up 0.8 %

GIB stock traded up $0.76 during midday trading on Monday, reaching $97.23. The company's stock had a trading volume of 799,451 shares, compared to its average volume of 190,515. The business's 50-day simple moving average is $108.91 and its 200-day simple moving average is $110.86. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. CGI Inc. has a 52 week low of $92.85 and a 52 week high of $122.79. The stock has a market cap of $22.04 billion, a PE ratio of 17.58, a price-to-earnings-growth 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 the consensus estimate of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. As a group, sell-side analysts expect that CGI Inc. will post 5.79 EPS for the current year.

CGI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders 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 annualized dividend and a dividend yield of 0.43%. CGI's payout ratio is currently 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.