Arrowstreet Capital Limited Partnership Buys 678,431 Shares of CGI Inc. (NYSE:GIB)

Arrowstreet Capital Limited Partnership boosted its stake in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 29.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,992,111 shares of the technology company’s stock after purchasing an additional 678,431 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.32% of CGI worth $327,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Metis Global Partners LLC increased its stake in CGI by 1.0% during the 4th quarter. Metis Global Partners LLC now owns 10,534 shares of the technology company’s stock valued at $1,153,000 after purchasing an additional 108 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of CGI by 0.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 31,209 shares of the technology company’s stock worth $3,412,000 after buying an additional 111 shares during the period. Signal Advisors Wealth LLC increased its position in shares of CGI by 4.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 3,158 shares of the technology company’s stock valued at $345,000 after acquiring an additional 135 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in CGI in the 3rd quarter worth $28,000. Finally, PCJ Investment Counsel Ltd. lifted its position in CGI by 3.1% during the 4th quarter. PCJ Investment Counsel Ltd. now owns 10,960 shares of the technology company’s stock worth $1,198,000 after acquiring an additional 330 shares during the period. Hedge funds and other institutional investors own 66.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Jefferies Financial Group cut their price objective on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. UBS Group increased their price target on shares of CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $192.00 price objective on shares of CGI in a research note on Wednesday. Two 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $156.75.

CGI Stock Down 1.2 %

Shares of GIB stock opened at $98.09 on Friday. CGI Inc. has a twelve month low of $96.92 and a twelve month high of $122.79. The stock has a market cap of $22.24 billion, a P/E ratio of 17.74, a P/E/G ratio of 2.58 and a beta of 0.96. The stock has a 50 day moving average of $110.31 and a 200 day moving average of $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.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its 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%. As a group, sell-side analysts expect that CGI Inc. will post 5.79 EPS for the current year.

CGI Announces Dividend

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

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.