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

Mufg Securities Canada LTD. boosted its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 72.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 311,295 shares of the technology company’s stock after acquiring an additional 130,379 shares during the quarter. CGI accounts for 1.2% of Mufg Securities Canada LTD.’s investment portfolio, making the stock its 22nd biggest position. Mufg Securities Canada LTD. owned 0.14% of CGI worth $34,038,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GIB. Canoe Financial LP purchased a new stake in shares of CGI during the 4th quarter worth about $94,390,000. National Bank of Canada FI lifted its position in CGI by 23.6% during the third quarter. National Bank of Canada FI now owns 4,513,733 shares of the technology company’s stock valued at $519,072,000 after buying an additional 861,771 shares in the last quarter. Barclays PLC grew its stake in CGI by 182.6% during the third quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock worth $54,808,000 after buying an additional 308,040 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in shares of CGI by 1.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,290,487 shares of the technology company’s stock worth $1,876,550,000 after acquiring an additional 230,000 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of CGI by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 7,942,779 shares of the technology company’s stock valued at $869,067,000 after acquiring an additional 128,285 shares during the period. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Trading Up 1.1 %

NYSE:GIB opened at $101.20 on Wednesday. The stock has a market cap of $22.95 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96. CGI Inc. has a one year low of $96.92 and a one year high of $122.79. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31. The business’s 50-day simple moving average is $110.87 and its 200 day simple moving average is $111.82.

CGI (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, meeting 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, sell-side analysts predict that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 14th were given a $0.1039 dividend. This represents a $0.42 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Friday, February 14th. CGI’s payout ratio is currently 7.41%.

Analysts Set New Price Targets

A number of analysts recently weighed in on GIB shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $178.00 price target on shares of CGI in a research report on Monday, January 6th. UBS Group upped their target price on CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Jefferies Financial Group dropped their target price on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Two equities 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 data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average 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.