Cibc World Market Inc. Has $216.37 Million Position in CGI Inc. (NYSE:GIB)

Cibc World Market Inc. grew its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,978,249 shares of the technology company’s stock after buying an additional 40,492 shares during the quarter. Cibc World Market Inc. owned 0.87% of CGI worth $216,369,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new position in CGI in the 3rd quarter valued at $28,000. Blue Trust Inc. increased its stake in shares of CGI by 288.2% in the third quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock valued at $91,000 after buying an additional 585 shares in the last quarter. CWM LLC raised its holdings in shares of 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. Werba Rubin Papier Wealth Management acquired a new position in CGI during the 3rd quarter worth about $208,000. Finally, Thrivent Financial for Lutherans bought a new stake in CGI during the 3rd quarter worth about $209,000. 66.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Price Performance

CGI stock opened at $119.13 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $27.15 billion, a P/E ratio of 21.54, a PEG ratio of 2.49 and a beta of 0.95. The business has a 50-day moving average of $110.81 and a 200-day moving average of $111.27. CGI Inc. has a 1 year low of $96.92 and a 1 year high of $121.55.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 earnings per share for the quarter, hitting the consensus estimate of $1.41. CGI had a return on equity of 19.59% and a net margin of 11.72%. On average, equities analysts anticipate that CGI Inc. will post 5.85 EPS for the current year.

CGI Dividend Announcement

The firm also recently declared 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 is Friday, February 14th. This represents a $0.42 annualized dividend and a yield of 0.35%. CGI’s dividend payout ratio (DPR) is presently 8.32%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Jefferies Financial Group decreased 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. StockNews.com raised CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Cibc World Mkts raised CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. CIBC upgraded CGI from a “neutral” rating to an “outperformer” rating and lifted their price objective for the stock from $155.00 to $178.00 in a research report on Tuesday, October 15th. Finally, 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. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $150.75.

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.