Commonwealth Equity Services LLC Buys 464 Shares of CGI Inc. (NYSE:GIB)

Commonwealth Equity Services LLC lifted its stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 3.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,515 shares of the technology company’s stock after acquiring an additional 464 shares during the period. Commonwealth Equity Services LLC’s holdings in CGI were worth $1,477,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans acquired a new stake in shares of CGI in the third quarter worth $209,000. Cerity Partners LLC raised its holdings in CGI by 60.2% in the 3rd quarter. Cerity Partners LLC now owns 7,379 shares of the technology company’s stock worth $848,000 after acquiring an additional 2,772 shares during the period. Townsquare Capital LLC acquired a new position in CGI during the 3rd quarter worth $281,000. Glenmede Trust Co. NA bought a new stake in CGI during the third quarter valued at about $273,000. Finally, Verition Fund Management LLC acquired a new stake in shares of CGI in the third quarter valued at about $307,000. 66.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Price Performance

Shares of NYSE:GIB opened at $98.09 on Friday. The business’s 50 day moving average is $110.31 and its 200-day moving average is $111.53. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $22.24 billion, a PE ratio of 17.74, a PEG ratio of 2.58 and a beta of 0.96. 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 announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. Sell-side analysts predict that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 14th were given a $0.1039 dividend. This represents a $0.42 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Friday, February 14th. CGI’s dividend payout ratio (DPR) is presently 7.41%.

Analysts Set New Price Targets

Several research firms recently weighed in on GIB. Royal Bank of Canada reissued an “outperform” rating and set a $192.00 price objective on shares of CGI in a research report on Wednesday. UBS Group increased their price objective on 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 dropped their target price 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 analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $156.75.

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.