CGI Inc. (NYSE:GIB) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 0.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 439,509 shares of the technology company’s stock after purchasing an additional 127 shares during the quarter. CIBC Asset Management Inc owned about 0.19% of CGI worth $48,090,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Sierra Ocean LLC purchased a new position in CGI in the fourth quarter worth approximately $62,000. Blue Trust Inc. lifted its position in CGI by 47.6% in the fourth quarter. Blue Trust Inc. now owns 1,163 shares of the technology company’s stock valued at $134,000 after buying an additional 375 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in CGI by 66.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 65,445 shares of the technology company’s stock worth $7,152,000 after buying an additional 26,038 shares during the period. Lester Murray Antman dba SimplyRich increased its position in shares of CGI by 1.2% during the fourth quarter. Lester Murray Antman dba SimplyRich now owns 30,397 shares of the technology company’s stock valued at $3,323,000 after acquiring an additional 350 shares during the last quarter. Finally, WCM Investment Management LLC raised its stake in shares of CGI by 88.3% in the 4th quarter. WCM Investment Management LLC now owns 23,634 shares of the technology company’s stock valued at $2,583,000 after acquiring an additional 11,082 shares during the period. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Price Performance

Shares of NYSE GIB opened at $120.45 on Monday. 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 market cap of $27.31 billion, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 2.62 and a beta of 0.94. The stock’s 50-day moving average is $112.57 and its two-hundred day moving average is $112.30. CGI Inc. has a 1-year low of $96.92 and a 1-year high of $122.79.

CGI (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. Analysts forecast that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders 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 dividend yield of 0.34%. CGI’s payout ratio is 8.32%.

Wall Street Analyst Weigh In

GIB has been the subject of several 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $178.00 price objective on shares of CGI in a report on Monday, January 6th. Jefferies Financial Group lowered their target price on CGI from $140.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Finally, StockNews.com upgraded shares of CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, CGI has an average rating of “Buy” and an average target price of $153.25.

CGI 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.