Neuberger Berman Group LLC Buys 12,170 Shares of CGI Inc. (NYSE:GIB)

Neuberger Berman Group LLC grew its position in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 30.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,539 shares of the technology company's stock after purchasing an additional 12,170 shares during the quarter. Neuberger Berman Group LLC's holdings in CGI were worth $5,636,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GIB. Geode Capital Management LLC grew its holdings in CGI by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 998,470 shares of the technology company's stock worth $115,844,000 after acquiring an additional 79,362 shares during the last quarter. Barclays PLC grew its stake in shares of CGI by 182.6% in 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 during the last quarter. Blue Trust Inc. increased its holdings in CGI by 47.6% in the fourth quarter. Blue Trust Inc. now owns 1,163 shares of the technology company's stock valued at $134,000 after purchasing an additional 375 shares during the period. Jane Street Group LLC increased its holdings in CGI by 19.2% in the third quarter. Jane Street Group LLC now owns 39,784 shares of the technology company's stock valued at $4,574,000 after purchasing an additional 6,403 shares during the period. Finally, Wellington Management Group LLP raised its position in CGI by 21.1% during the 3rd quarter. Wellington Management Group LLP now owns 96,516 shares of the technology company's stock worth $11,118,000 after purchasing an additional 16,844 shares during the last quarter. 66.68% of the stock is currently owned by institutional investors.

CGI Stock Performance

GIB traded up $1.44 during trading on Thursday, hitting $105.60. 104,088 shares of the company traded hands, compared to its average volume of 196,353. The firm has a market cap of $23.94 billion, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 2.58 and a beta of 0.85. 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 one year low of $92.85 and a one year high of $122.79. The stock's fifty day moving average is $105.82 and its 200 day moving average is $110.09.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last issued its earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share (EPS) for the quarter, meeting 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, equities analysts predict that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 14th were given a $0.1039 dividend. This represents a $0.42 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend was Friday, February 14th. CGI's dividend payout ratio (DPR) is presently 7.41%.

Analysts Set New Price Targets

GIB has been the topic of several analyst reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $192.00 target price on shares of CGI in a report on Wednesday, March 26th. Jefferies Financial Group reduced their price objective on shares of CGI from $140.00 to $135.00 and set a "buy" rating on the stock in a research note on Tuesday, January 21st. Finally, UBS Group lifted their target price on shares of 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 issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $156.75.

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.