CGI Inc. (NYSE:GIB) Shares Acquired by Mufg Securities Canada LTD.

Mufg Securities Canada LTD. raised its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 72.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 311,295 shares of the technology company’s stock after purchasing an additional 130,379 shares during the period. CGI comprises about 1.2% of Mufg Securities Canada LTD.’s portfolio, making the stock its 22nd largest holding. Mufg Securities Canada LTD.’s holdings in CGI were worth $34,038,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of CGI in the 3rd quarter valued at about $28,000. Sierra Ocean LLC bought a new position in shares of CGI during the fourth quarter valued at approximately $62,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of CGI during the 4th quarter worth approximately $83,000. Blue Trust Inc. lifted its holdings in shares of CGI by 47.6% in the 4th quarter. Blue Trust Inc. now owns 1,163 shares of the technology company’s stock worth $134,000 after purchasing an additional 375 shares during the last quarter. Finally, Thrivent Financial for Lutherans acquired a new position in CGI during the 3rd quarter valued at approximately $209,000. 66.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GIB shares. UBS Group raised their target price on CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $178.00 target price on shares of CGI in a research note on Monday, January 6th. Finally, Jefferies Financial Group dropped their price target on shares of CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $153.25.

CGI Stock Up 1.1 %

CGI stock opened at $101.20 on Wednesday. CGI Inc. has a 52 week low of $96.92 and a 52 week high of $122.79. The stock has a market cap of $22.95 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.58 and a beta of 0.96. The company’s 50-day moving average price is $110.87 and its two-hundred day moving average price is $111.82. 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 announced 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 return on equity of 19.32% and a net margin of 11.72%. On average, analysts expect that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 14th were given a $0.1039 dividend. This represents a $0.42 annualized dividend and a yield of 0.41%. The ex-dividend date was Friday, February 14th. CGI’s dividend payout ratio (DPR) is presently 7.41%.

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.