CGI Inc. (NYSE:GIB) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can boosted its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 17.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,843,289 shares of the technology company’s stock after buying an additional 567,868 shares during the period. Bank of Montreal Can’s holdings in CGI were worth $419,976,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Metis Global Partners LLC lifted its holdings in CGI by 1.0% in 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 increased its holdings in CGI by 0.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 31,209 shares of the technology company’s stock worth $3,412,000 after purchasing an additional 111 shares during the period. Signal Advisors Wealth LLC lifted its holdings in CGI by 4.5% during the 4th quarter. Signal Advisors Wealth LLC now owns 3,158 shares of the technology company’s stock worth $345,000 after buying an additional 135 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of CGI during the third quarter worth about $28,000. Finally, PCJ Investment Counsel Ltd. grew 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 purchasing an additional 330 shares during the last quarter. 66.68% of the stock is owned by institutional investors and hedge funds.

CGI Stock Performance

Shares of CGI stock opened at $96.51 on Monday. The business has a fifty day simple moving average of $109.23 and a 200-day simple moving average of $110.98. The stock 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 0.85. 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 Inc. has a 12 month low of $93.80 and a 12 month high of $122.79.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly 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 return on equity of 19.32% and a net margin of 11.72%. On average, sell-side analysts anticipate that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 14th were given a dividend of $0.1039 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Friday, February 14th. CGI’s dividend payout ratio is currently 7.41%.

Analyst Ratings Changes

GIB has been the topic of a number of recent analyst reports. Jefferies Financial Group dropped 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 objective 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 target on shares of CGI in a research note on Wednesday, March 26th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, CGI has an average rating of “Buy” and a consensus price target of $156.75.

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.