CGI Inc. (NYSE:GIB) Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its position in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 20.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 166,731 shares of the technology company's stock after acquiring an additional 27,792 shares during the quarter. Pictet Asset Management Holding SA owned 0.07% of CGI worth $18,233,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in CGI in the 4th quarter worth about $286,970,000. JPMorgan Chase & Co. grew its position in shares of CGI by 5.6% during the 4th quarter. JPMorgan Chase & Co. now owns 931,992 shares of the technology company's stock worth $101,885,000 after buying an additional 49,362 shares in the last quarter. Mufg Securities Canada LTD. increased its stake in shares of CGI by 72.1% during the fourth quarter. Mufg Securities Canada LTD. now owns 311,295 shares of the technology company's stock valued at $34,038,000 after buying an additional 130,379 shares during the period. 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 acquiring an additional 81,440 shares in the last quarter. Finally, Prudential Financial Inc. lifted its stake in CGI by 158.0% in the fourth quarter. Prudential Financial Inc. now owns 17,400 shares of the technology company's stock worth $1,903,000 after acquiring an additional 10,655 shares during the period. 66.68% of the stock is currently owned by institutional investors.

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CGI Stock Performance

NYSE GIB traded down $3.83 during trading hours on Friday, reaching $96.51. The stock had a trading volume of 428,254 shares, compared to its average volume of 187,620. CGI Inc. has a 52-week low of $95.81 and a 52-week high of $122.79. The stock has a fifty day moving average of $109.53 and a 200 day moving average of $111.15. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31. The stock 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 released its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 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 predict that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 14th were issued a dividend of $0.1039 per share. This represents a $0.42 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Friday, February 14th. CGI's dividend payout ratio (DPR) is presently 7.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GIB shares. Royal Bank of Canada reissued an "outperform" rating and issued a $192.00 price objective on shares of CGI in a research note on Wednesday, March 26th. UBS Group increased their target price 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 dropped their price target on CGI from $140.00 to $135.00 and set a "buy" rating on the stock in a research note on Tuesday, January 21st. Two equities research 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's stock. According to MarketBeat.com, the company currently has an average 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.