2,626,122 Shares in CGI Inc. (NYSE:GIB) Acquired by Norges Bank

Norges Bank acquired a new stake in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,626,122 shares of the technology company's stock, valued at approximately $286,970,000. Norges Bank owned about 1.16% of CGI as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GIB. Geode Capital Management LLC boosted its holdings in CGI by 8.6% in the 3rd quarter. Geode Capital Management LLC now owns 998,470 shares of the technology company's stock worth $115,844,000 after buying an additional 79,362 shares during the period. Barclays PLC lifted its position 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 acquiring an additional 308,040 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of CGI by 47.6% in the fourth quarter. Blue Trust Inc. now owns 1,163 shares of the technology company's stock worth $134,000 after acquiring an additional 375 shares during the period. Wellington Management Group LLP grew its position in shares of CGI by 21.1% in the third quarter. Wellington Management Group LLP now owns 96,516 shares of the technology company's stock valued at $11,118,000 after purchasing an additional 16,844 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of CGI by 19.2% during the 3rd 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. Institutional investors own 66.68% of the company's stock.

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CGI Price Performance

Shares of NYSE:GIB traded down $0.12 on Thursday, hitting $101.98. The company's stock had a trading volume of 108,705 shares, compared to its average volume of 185,341. CGI Inc. has a 1 year low of $92.05 and a 1 year high of $122.79. 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 company has a market capitalization of $23.12 billion, a PE ratio of 18.44, a PEG ratio of 2.58 and a beta of 0.96. The company has a 50-day simple moving average of $109.76 and a 200 day simple moving average of $111.23.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last announced 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 net margin of 11.72% and a return on equity of 19.32%. Sell-side analysts forecast that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Announces Dividend

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

Analyst Ratings Changes

Several research analysts have commented on GIB shares. UBS Group raised their target price on CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Royal Bank of Canada restated an "outperform" rating and issued a $192.00 price objective on shares of CGI in a research report on Wednesday, March 26th. Finally, Jefferies Financial Group decreased their target price on shares of CGI from $140.00 to $135.00 and set a "buy" rating on the stock in a report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target 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.