Versor Investments LP Raises Holdings in CGI Inc. (NYSE:GIB)

Versor Investments LP increased its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 96.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 9,045 shares of the technology company’s stock after acquiring an additional 4,446 shares during the period. Versor Investments LP’s holdings in CGI were worth $989,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GIB. Assenagon Asset Management S.A. grew its position in CGI by 34.5% in the third quarter. Assenagon Asset Management S.A. now owns 7,545 shares of the technology company’s stock worth $869,000 after acquiring an additional 1,936 shares during the period. First Trust Direct Indexing L.P. grew its position in CGI by 15.1% in the third quarter. First Trust Direct Indexing L.P. now owns 5,452 shares of the technology company’s stock worth $627,000 after acquiring an additional 716 shares during the period. US Bancorp DE grew its position in CGI by 8.4% in the third quarter. US Bancorp DE now owns 3,099 shares of the technology company’s stock worth $356,000 after acquiring an additional 240 shares during the period. Farther Finance Advisors LLC grew its position in CGI by 43.6% in the third quarter. Farther Finance Advisors LLC now owns 9,268 shares of the technology company’s stock worth $1,065,000 after acquiring an additional 2,815 shares during the period. Finally, Van ECK Associates Corp grew its position in CGI by 11.0% in 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 period. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

CGI Trading Down 1.4 %

NYSE:GIB opened at $110.36 on Friday. The firm has a market cap of $25.02 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 2.58 and a beta of 0.94. The stock has a fifty day moving average price of $113.23 and a 200 day moving average price of $112.74. CGI Inc. has a 12-month low of $96.92 and a 12-month high of $122.79. 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 (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. Sell-side analysts anticipate that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 14th will be issued a $0.1039 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.42 dividend on an annualized basis and a yield of 0.38%. CGI’s dividend payout ratio (DPR) is presently 7.41%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on GIB shares. Royal Bank of Canada restated an “outperform” rating and set a $178.00 price target on shares of CGI in a research report on Monday, January 6th. Jefferies Financial Group lowered their price target on CGI from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Finally, UBS Group raised their price target on CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $153.25.

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.