CIBC Private Wealth Group LLC Increases Holdings in CGI Inc. (NYSE:GIB)

CIBC Private Wealth Group LLC raised its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 840.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,244 shares of the technology company’s stock after buying an additional 2,899 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in CGI were worth $354,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in CGI in the third quarter valued at $28,000. Sierra Ocean LLC purchased a new stake in shares of CGI in the 4th quarter worth about $62,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of CGI during the 4th quarter valued at about $83,000. Blue Trust Inc. increased its position in shares of CGI by 47.6% during 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 during the period. Finally, Olympiad Research LP bought a new position in CGI in the fourth quarter worth about $203,000. 66.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GIB has been the topic of several research reports. UBS Group lifted 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. Jefferies Financial Group dropped 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 $192.00 price objective on shares of CGI in a report on Wednesday, March 26th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CGI currently has a consensus rating of “Buy” and a consensus price target of $156.75.

CGI Stock Down 3.8 %

GIB stock opened at $96.51 on Friday. The business has a 50 day moving average of $109.23 and a 200 day moving average of $110.99. The firm has a market cap of $21.88 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96. CGI Inc. has a twelve month low of $95.75 and a twelve month high of $122.79. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share for the quarter, meeting the consensus estimate of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. On average, research analysts forecast that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 14th were given a dividend of $0.1039 per share. This represents a $0.42 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, February 14th. CGI’s dividend payout ratio (DPR) is currently 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.