KFA Private Wealth Group LLC Acquires 6,760 Shares of CGI Inc. (NYSE:GIB)

KFA Private Wealth Group LLC grew its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 120.9% in the fourth quarter, Holdings Channel reports. The firm owned 12,350 shares of the technology company’s stock after purchasing an additional 6,760 shares during the period. CGI comprises approximately 0.6% of KFA Private Wealth Group LLC’s holdings, making the stock its 29th biggest position. KFA Private Wealth Group LLC’s holdings in CGI were worth $1,350,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GIB. Canoe Financial LP purchased a new position in shares of CGI during the 4th quarter valued at $94,390,000. National Bank of Canada FI grew its position in shares of CGI by 23.6% during 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 purchasing an additional 861,771 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of CGI by 68.2% during 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. Barclays PLC grew its position in shares of CGI by 182.6% during the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock valued at $54,808,000 after purchasing an additional 308,040 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of CGI by 1.4% during 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 purchasing an additional 230,000 shares in the last quarter. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Jefferies Financial Group reduced their price target on shares of CGI from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $178.00 target price on shares of CGI in a research report on Monday, January 6th. StockNews.com upgraded shares of CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and upped their target price for the stock from $155.00 to $178.00 in a research report on Tuesday, October 15th. Two equities research 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $150.75.

CGI Stock Performance

NYSE GIB opened at $113.19 on Tuesday. The company has a 50-day simple moving average of $110.55 and a two-hundred day simple moving average of $111.12. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.29. CGI Inc. has a 12-month low of $96.92 and a 12-month high of $118.89. The firm has a market cap of $25.80 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 2.40 and a beta of 0.95.

CGI Announces Dividend

The firm also recently declared a — dividend, which was paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th were given a dividend of $0.111 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a yield of 0.4%. CGI’s payout ratio is 8.55%.

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.