DORCHESTER WEALTH MANAGEMENT Co Purchases 3,464 Shares of CGI Inc. (NYSE:GIB)

DORCHESTER WEALTH MANAGEMENT Co boosted its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 3.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 93,521 shares of the technology company’s stock after acquiring an additional 3,464 shares during the period. CGI accounts for about 2.0% of DORCHESTER WEALTH MANAGEMENT Co’s investment portfolio, making the stock its 16th largest position. DORCHESTER WEALTH MANAGEMENT Co’s holdings in CGI were worth $10,026,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Olympiad Research LP bought a new stake in CGI during the 4th quarter worth approximately $203,000. Cumberland Partners Ltd bought a new stake in CGI during the 4th quarter worth approximately $242,000. Pembroke Management LTD raised its stake in CGI by 21.4% during the 4th quarter. Pembroke Management LTD now owns 7,709 shares of the technology company’s stock worth $843,000 after acquiring an additional 1,357 shares during the period. Sierra Ocean LLC bought a new stake in CGI during the 4th quarter worth approximately $62,000. Finally, Blue Trust Inc. raised its stake in CGI by 47.6% during the 4th quarter. Blue Trust Inc. now owns 1,163 shares of the technology company’s stock worth $134,000 after acquiring an additional 375 shares during the period. Institutional investors own 66.68% of the company’s stock.

CGI Trading Down 4.0 %

CGI stock opened at $112.58 on Friday. The firm’s 50 day moving average price is $112.99 and its 200-day moving average price is $112.62. CGI Inc. has a 1 year low of $96.92 and a 1 year high of $122.79. 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 stock has a market cap of $25.52 billion, a P/E ratio of 20.36, a PEG ratio of 2.58 and a beta of 0.94.

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

CGI Dividend Announcement

The firm 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. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date is Friday, February 14th. CGI’s dividend payout ratio (DPR) is presently 7.41%.

Analysts Set New Price Targets

A number of research firms have commented on GIB. Royal Bank of Canada restated an “outperform” rating and set a $178.00 target price on shares of CGI in a research note on Monday, January 6th. StockNews.com upgraded shares of CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. UBS Group lifted their price objective on shares of CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Finally, Jefferies Financial Group reduced their price objective on shares of 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 issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $153.25.

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.