CGI Inc. (NYSE:GIB) Shares Bought by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ grew its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 65.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,206 shares of the technology company’s stock after buying an additional 20,195 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in CGI were worth $5,597,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of CGI by 1.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,290,487 shares of the technology company’s stock valued at $1,876,550,000 after buying an additional 230,000 shares during the period. National Bank of Canada FI lifted its holdings in shares of CGI by 23.6% in the 3rd 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 during the period. Bank of Montreal Can lifted its holdings in shares of CGI by 3.3% in the 3rd quarter. Bank of Montreal Can now owns 3,275,421 shares of the technology company’s stock valued at $373,887,000 after buying an additional 104,300 shares during the period. Cibc World Market Inc. lifted its holdings in shares of CGI by 2.1% in the 4th quarter. Cibc World Market Inc. now owns 1,978,249 shares of the technology company’s stock valued at $216,369,000 after buying an additional 40,492 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in CGI by 68.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock valued at $157,485,000 after purchasing an additional 555,017 shares in the last quarter. 66.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. UBS Group raised their price objective on CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $178.00 price objective on shares of CGI in a research report on Monday, January 6th. Finally, Jefferies Financial Group lowered their price objective on CGI from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Two investment 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 MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $153.25.

CGI Price Performance

Shares of CGI stock opened at $103.09 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 capitalization of $23.37 billion, a P/E ratio of 18.64, a PEG ratio of 2.58 and a beta of 0.96. 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 business’s fifty day moving average price is $111.85 and its 200 day moving average price is $112.35.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, hitting 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, research analysts anticipate that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 14th will be paid a dividend of $0.1039 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, February 14th. CGI’s dividend payout ratio is presently 7.41%.

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.