Raymond James Financial Inc. Takes Position in CGI Inc. (NYSE:GIB)

Raymond James Financial Inc. purchased a new position in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 8,458 shares of the technology company's stock, valued at approximately $925,000.

Other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its stake in CGI by 46.7% in the fourth quarter. Jones Financial Companies Lllp now owns 7,238 shares of the technology company's stock valued at $791,000 after acquiring an additional 2,304 shares during the last quarter. Metis Global Partners LLC raised its holdings in shares of CGI by 1.0% in the 4th quarter. Metis Global Partners LLC now owns 10,534 shares of the technology company's stock worth $1,153,000 after purchasing an additional 108 shares during the period. Versor Investments LP lifted its stake in CGI by 96.7% in the fourth quarter. Versor Investments LP now owns 9,045 shares of the technology company's stock valued at $989,000 after purchasing an additional 4,446 shares during the last quarter. Mn Services Vermogensbeheer B.V. grew its holdings in CGI by 1.8% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 80,433 shares of the technology company's stock valued at $8,796,000 after purchasing an additional 1,400 shares during the period. Finally, Bank of New York Mellon Corp increased its position in CGI by 0.5% in the fourth quarter. Bank of New York Mellon Corp now owns 289,654 shares of the technology company's stock worth $31,665,000 after buying an additional 1,409 shares during the last quarter. Institutional investors own 66.68% of the company's stock.

Wall Street Analyst Weigh In

GIB has been the subject of several research reports. Jefferies Financial Group cut their price target on CGI from $140.00 to $135.00 and set a "buy" rating for the company in a research note on Tuesday, January 21st. Royal Bank of Canada restated an "outperform" rating and set a $192.00 price target on shares of CGI in a research note on Wednesday, March 26th. Finally, UBS Group lifted their price objective on shares of CGI from $118.00 to $122.00 and gave the company 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 assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $156.75.

CGI Price Performance

Shares of NYSE GIB traded up $5.30 during midday trading on Wednesday, hitting $101.80. 447,508 shares of the company's stock were exchanged, compared to its average volume of 193,190. The business's fifty day moving average price is $107.50 and its two-hundred day moving average price is $110.50. The company has a market cap of $23.08 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 2.58 and a beta of 0.85. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28. CGI Inc. has a 12-month low of $92.85 and a 12-month high of $122.79.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, hitting analysts' consensus estimates of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. As a group, research analysts forecast that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Announces Dividend

The company also recently disclosed 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 0.41%. CGI's dividend payout ratio (DPR) is presently 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.