Pictet Asset Management Holding SA grew its stake in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 20.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 166,731 shares of the technology company's stock after acquiring an additional 27,792 shares during the period. Pictet Asset Management Holding SA owned about 0.07% of CGI worth $18,233,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in CGI during the fourth quarter worth $286,970,000. Canoe Financial LP purchased a new position in shares of CGI in the fourth quarter valued at $94,390,000. National Bank of Canada FI raised its stake in shares of CGI by 23.6% during the 3rd quarter. National Bank of Canada FI now owns 4,513,733 shares of the technology company's stock worth $519,072,000 after buying an additional 861,771 shares during the last quarter. Barclays PLC raised its stake in shares of CGI by 182.6% during the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company's stock worth $54,808,000 after buying an additional 308,040 shares during the last quarter. Finally, Mufg Securities Canada LTD. boosted its position in shares of CGI by 72.1% in the 4th quarter. Mufg Securities Canada LTD. now owns 311,295 shares of the technology company's stock worth $34,038,000 after buying an additional 130,379 shares in the last quarter. Hedge funds and other institutional investors own 66.68% of the company's stock.
CGI Trading Down 3.8 %
Shares of NYSE:GIB traded down $3.83 during trading on Friday, reaching $96.51. The stock had a trading volume of 428,254 shares, compared to its average volume of 188,079. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The stock has a market cap of $21.88 billion, a P/E ratio of 17.45, a PEG ratio of 2.58 and a beta of 0.85. The business has a fifty day moving average price of $109.23 and a 200-day moving average price of $110.98. CGI Inc. has a fifty-two week low of $95.75 and a fifty-two week high of $122.79.
CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last released its earnings results on Wednesday, January 29th. The technology company reported $1.41 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, analysts anticipate that CGI Inc. will post 5.79 earnings per share for the current fiscal 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. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.42 annualized dividend and a yield of 0.43%. CGI's dividend payout ratio (DPR) is presently 7.41%.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on GIB shares. Jefferies Financial Group dropped their target price 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. Royal Bank of Canada reissued an "outperform" rating and set a $192.00 price objective on shares of CGI in a research note on Wednesday, March 26th. Finally, UBS Group upped their target price on CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, CGI presently has an average rating of "Buy" and an average target price of $156.75.
Check Out Our Latest Stock Report on GIB
CGI Company Profile
(
Free Report)
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.
Further Reading
Before you consider CGI, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CGI wasn't on the list.
While CGI currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
