CIBC Asset Management Inc Raises Stock Position in CGI Inc. (NYSE:GIB)

CIBC Asset Management Inc lifted its stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 0.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 439,509 shares of the technology company’s stock after acquiring an additional 127 shares during the period. CIBC Asset Management Inc’s holdings in CGI were worth $48,090,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Crestwood Advisors Group LLC grew its holdings in shares of CGI by 2.4% during the third quarter. Crestwood Advisors Group LLC now owns 4,222 shares of the technology company’s stock worth $485,000 after purchasing an additional 97 shares during the last quarter. West Family Investments Inc. grew its stake in CGI by 5.5% during the 3rd quarter. West Family Investments Inc. now owns 2,323 shares of the technology company’s stock worth $267,000 after buying an additional 121 shares during the last quarter. Signal Advisors Wealth LLC increased its position in CGI by 4.5% during the fourth quarter. Signal Advisors Wealth LLC now owns 3,158 shares of the technology company’s stock worth $345,000 after buying an additional 135 shares during the period. CWM LLC lifted its stake in CGI by 14.8% in the third quarter. CWM LLC now owns 1,365 shares of the technology company’s stock valued at $157,000 after buying an additional 176 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of CGI by 0.6% in the third quarter. Sequoia Financial Advisors LLC now owns 31,098 shares of the technology company’s stock valued at $3,575,000 after acquiring an additional 181 shares during the period. 66.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GIB has been the topic of a number of recent research reports. UBS Group lifted their target price on shares of CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. StockNews.com upgraded shares of CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Royal Bank of Canada reiterated 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 CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $153.25.

CGI Stock Down 1.6 %

Shares of NYSE:GIB opened at $120.45 on Monday. The company has a market cap of $27.31 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 2.62 and a beta of 0.94. CGI Inc. has a fifty-two week low of $96.92 and a fifty-two week high of $122.79. The firm’s 50-day simple moving average is $112.57 and its 200-day simple moving average is $112.30. The company has a quick ratio of 1.04, a current ratio of 1.31 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, hitting the consensus estimate of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. As a group, equities research analysts predict that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 14th will be given a $0.1039 dividend. This represents a $0.42 annualized dividend and a yield of 0.34%. The ex-dividend date is Friday, February 14th. CGI’s payout ratio is 8.32%.

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.