CGI (NYSE:GIB) Sets New 52-Week High After Dividend Announcement

CGI Inc. (NYSE:GIB) (TSE:GIB.A)’s share price hit a new 52-week high during trading on Thursday after the company announced a dividend. The company traded as high as $120.69 and last traded at $120.84, with a volume of 102722 shares changing hands. The stock had previously closed at $114.54.

The newly announced dividend which will be paid on Friday, March 21st. Shareholders of record on Friday, February 14th will be issued a dividend of $0.1039 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.42 dividend on an annualized basis and a yield of 0.35%. CGI’s dividend payout ratio is currently 7.41%.

Analyst Ratings Changes

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

CGI Stock Performance

The stock has a market capitalization of $26.86 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 2.49 and a beta of 0.95. The business’s fifty day moving average is $111.08 and its two-hundred day moving average is $111.41. 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 (NYSE:GIB) (TSE:GIB.A) last announced its 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 19.59% and a net margin of 11.72%. As a group, research analysts anticipate that CGI Inc. will post 5.85 EPS for the current fiscal year.

Institutional Trading of CGI

Institutional investors and hedge funds have recently modified their holdings of the stock. Crestwood Advisors Group LLC boosted its position in CGI by 2.4% during the 3rd quarter. Crestwood Advisors Group LLC now owns 4,222 shares of the technology company’s stock valued at $485,000 after acquiring an additional 97 shares in the last quarter. West Family Investments Inc. raised its stake in CGI by 5.5% in the 3rd quarter. West Family Investments Inc. now owns 2,323 shares of the technology company’s stock worth $267,000 after acquiring an additional 121 shares during the last quarter. Signal Advisors Wealth LLC lifted its position 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 acquiring an additional 135 shares during the period. CWM LLC grew its stake in CGI by 14.8% during the 3rd quarter. CWM LLC now owns 1,365 shares of the technology company’s stock valued at $157,000 after purchasing an additional 176 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in shares of CGI by 0.6% in the third quarter. Sequoia Financial Advisors LLC now owns 31,098 shares of the technology company’s stock worth $3,575,000 after purchasing an additional 181 shares during the last quarter. Institutional investors own 66.68% of the company’s stock.

CGI Company 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.