CGI Inc. (NYSE:GIB) Shares Acquired by Forsta AP Fonden

Forsta AP Fonden increased its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,600 shares of the technology company’s stock after purchasing an additional 1,100 shares during the period. Forsta AP Fonden’s holdings in CGI were worth $5,205,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of CGI during the 3rd quarter worth about $28,000. Blue Trust Inc. boosted its holdings in CGI by 288.2% in the third quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock valued at $91,000 after purchasing an additional 585 shares in the last quarter. CWM LLC increased its stake in CGI by 14.8% in the third quarter. CWM LLC now owns 1,365 shares of the technology company’s stock valued at $157,000 after purchasing an additional 176 shares during the last quarter. Werba Rubin Papier Wealth Management acquired a new stake in CGI during the third quarter worth approximately $208,000. Finally, Thrivent Financial for Lutherans purchased a new stake in shares of CGI during the 3rd quarter worth approximately $209,000. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Stock Down 1.0 %

GIB opened at $117.87 on Friday. CGI Inc. has a 52 week low of $96.92 and a 52 week high of $121.55. The business has a 50 day moving average price of $110.95 and a two-hundred day moving average price of $111.32. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.29. The company has a market cap of $26.86 billion, a PE ratio of 21.31, a P/E/G ratio of 2.49 and a beta of 0.95.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, hitting the consensus estimate of $1.41. CGI had a return on equity of 19.59% and a net margin of 11.72%. As a group, research analysts anticipate that CGI Inc. will post 5.85 EPS for the current year.

CGI Announces Dividend

The company also recently announced 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. This represents a $0.42 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend is Friday, February 14th. CGI’s payout ratio is 8.32%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GIB shares. CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and increased their target price for the company from $155.00 to $178.00 in a research report on Tuesday, October 15th. Cibc World Mkts raised CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. StockNews.com raised CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Jefferies Financial Group cut their price target on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $178.00 price objective 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 issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $150.75.

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.