Generali Asset Management SPA SGR Takes Position in CGI Inc. (NYSE:GIB)

Generali Asset Management SPA SGR acquired a new stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 28,182 shares of the technology company’s stock, valued at approximately $3,081,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of CGI in the 3rd quarter valued at about $28,000. Sierra Ocean LLC acquired a new stake in shares of CGI in the fourth quarter valued at about $62,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of CGI in the fourth quarter valued at about $83,000. Blue Trust Inc. grew its stake in shares of CGI by 47.6% in the fourth quarter. Blue Trust Inc. now owns 1,163 shares of the technology company’s stock valued at $134,000 after buying an additional 375 shares in the last quarter. Finally, Thrivent Financial for Lutherans acquired a new stake in shares of CGI in the third quarter valued at about $209,000. 66.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on GIB shares. UBS Group increased their target price on CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Jefferies Financial Group lowered their target price on CGI from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada reiterated 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $153.25.

CGI Trading Up 0.1 %

NYSE:GIB opened at $103.51 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31. CGI Inc. has a one year low of $96.92 and a one year high of $122.79. The business’s 50-day simple moving average is $111.54 and its 200 day simple moving average is $112.18. The stock has a market cap of $23.47 billion, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96.

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, 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, sell-side analysts predict that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 14th will be paid a $0.1039 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.42 dividend on an annualized basis and a yield of 0.40%. CGI’s dividend payout ratio (DPR) is 7.41%.

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.