Bank of New York Mellon Corp Buys 1,409 Shares of CGI Inc. (NYSE:GIB)

Bank of New York Mellon Corp increased its stake in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 289,654 shares of the technology company’s stock after acquiring an additional 1,409 shares during the quarter. Bank of New York Mellon Corp owned about 0.13% of CGI worth $31,665,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GIB. Union Bancaire Privee UBP SA acquired a new stake in CGI during the fourth quarter worth $1,738,000. DORCHESTER WEALTH MANAGEMENT Co boosted its stake in CGI by 3.8% during the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 93,521 shares of the technology company’s stock worth $10,026,000 after buying an additional 3,464 shares in the last quarter. Olympiad Research LP acquired a new stake in CGI during the fourth quarter worth $203,000. Cumberland Partners Ltd acquired a new stake in shares of CGI in the 4th quarter valued at $242,000. Finally, Pembroke Management LTD boosted its stake in shares of CGI by 21.4% in the 4th quarter. Pembroke Management LTD now owns 7,709 shares of the technology company’s stock valued at $843,000 after purchasing an additional 1,357 shares in the last quarter. Institutional investors own 66.68% of the company’s stock.

CGI Price Performance

Shares of GIB opened at $104.99 on Friday. The stock has a market capitalization of $23.81 billion, a P/E ratio of 18.99, a P/E/G ratio of 2.58 and a beta of 0.96. CGI Inc. has a twelve month low of $96.92 and a twelve month high of $122.79. The company has a 50 day moving average of $112.47 and a 200-day moving average of $112.58. 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 posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, meeting analysts’ consensus estimates 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 forecast that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Friday, February 14th. CGI’s dividend payout ratio is presently 7.41%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. UBS Group lifted their price target on CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Jefferies Financial Group dropped their price objective on CGI from $140.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. StockNews.com raised CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $178.00 price target on shares of CGI in a research note on Monday, January 6th. Two equities research 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, the stock has an average rating of “Buy” and an average price target 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.