Scotia Capital Inc. Raises Position in CGI Inc. (NYSE:GIB)

Scotia Capital Inc. raised its stake in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 5.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 558,678 shares of the technology company's stock after buying an additional 29,040 shares during the period. Scotia Capital Inc. owned about 0.25% of CGI worth $61,010,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. APG Asset Management US Inc. purchased a new position in CGI in the fourth quarter worth $701,000. Raymond James Financial Inc. bought a new stake in CGI during the fourth quarter worth about $925,000. APG Asset Management N.V. boosted its holdings in shares of CGI by 142.3% in the 4th quarter. APG Asset Management N.V. now owns 172,696 shares of the technology company's stock worth $18,238,000 after purchasing an additional 101,434 shares in the last quarter. Bank of Montreal Can increased its position in shares of CGI by 17.3% during the 4th quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company's stock valued at $419,976,000 after purchasing an additional 567,868 shares during the last quarter. Finally, Cerity Partners LLC increased its position in shares of CGI by 54.8% during the 4th quarter. Cerity Partners LLC now owns 11,424 shares of the technology company's stock valued at $1,265,000 after purchasing an additional 4,045 shares during the last quarter. Institutional investors own 66.68% of the company's stock.

CGI Trading Down 0.4 %

CGI stock traded down $0.40 during trading hours on Tuesday, reaching $102.66. The company had a trading volume of 79,284 shares, compared to its average volume of 195,172. The firm has a market cap of $23.28 billion, a price-to-earnings ratio of 18.56, a P/E/G ratio of 2.58 and a beta of 0.85. CGI Inc. has a 12-month low of $92.85 and a 12-month 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 50-day moving average price of $106.43 and a 200 day moving average price of $110.18.

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%. Equities analysts forecast that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 14th were paid a dividend of $0.1039 per share. This represents a $0.42 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Friday, February 14th. CGI's dividend payout ratio (DPR) is 7.41%.

Wall Street Analyst Weigh In

Several analysts have issued reports on GIB shares. UBS Group upped 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 report on Wednesday, March 26th. Finally, Jefferies Financial Group reduced 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 investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $156.75.

About CGI

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.