CGI Inc. (NYSE:GIB) Shares Acquired by Scheer Rowlett & Associates Investment Management Ltd.

Scheer Rowlett & Associates Investment Management Ltd. boosted its position in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 26.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 490,663 shares of the technology company's stock after acquiring an additional 101,475 shares during the quarter. CGI accounts for about 3.9% of Scheer Rowlett & Associates Investment Management Ltd.'s holdings, making the stock its 10th biggest holding. Scheer Rowlett & Associates Investment Management Ltd. owned 0.22% of CGI worth $53,617,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE raised its holdings in CGI by 8.4% during the third quarter. US Bancorp DE now owns 3,099 shares of the technology company's stock worth $356,000 after purchasing an additional 240 shares in the last quarter. Van ECK Associates Corp grew its position in shares of CGI by 11.0% during the third quarter. Van ECK Associates Corp now owns 36,378 shares of the technology company's stock worth $4,144,000 after acquiring an additional 3,607 shares during the last quarter. Fiera Capital Corp grew its position in shares of CGI by 2.7% during the third quarter. Fiera Capital Corp now owns 4,384,639 shares of the technology company's stock worth $505,173,000 after acquiring an additional 114,864 shares during the last quarter. Atria Investments Inc purchased a new position in shares of CGI during the third quarter worth approximately $218,000. Finally, Versor Investments LP grew its position in shares of CGI by 35.2% during the third quarter. Versor Investments LP now owns 4,599 shares of the technology company's stock worth $529,000 after acquiring an additional 1,197 shares during the last quarter. Institutional investors and hedge funds own 66.68% of the company's stock.

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Analyst Upgrades and Downgrades

GIB has been the topic of a number of research reports. Jefferies Financial Group lowered their target price on shares of CGI from $140.00 to $135.00 and set a "buy" rating on the stock in a research report on Tuesday, January 21st. Royal Bank of Canada restated an "outperform" rating and set a $178.00 target price on shares of CGI in a research report on Monday, January 6th. 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 report on Monday, February 3rd. Finally, StockNews.com upgraded shares of CGI from a "sell" rating to a "hold" rating in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $153.25.

CGI Price Performance

Shares of NYSE GIB traded up $0.06 during trading on Wednesday, hitting $103.88. 317,438 shares of the company were exchanged, compared to its average volume of 265,147. The company has a market cap of $23.55 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 2.58 and a beta of 0.96. CGI Inc. has a 1 year low of $96.92 and a 1 year high of $122.79. The firm's fifty day moving average price is $112.27 and its 200 day moving average price is $112.53. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.04.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last issued 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%. On average, sell-side analysts expect that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 14th will be given a dividend of $0.1039 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.42 annualized dividend and a dividend yield of 0.40%. CGI's payout ratio is currently 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.