Swiss National Bank Lowers Position in CGI Inc. (NYSE:GIB)

Swiss National Bank decreased its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 4.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 591,200 shares of the technology company’s stock after selling 25,000 shares during the period. Swiss National Bank owned about 0.26% of CGI worth $64,655,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Canoe Financial LP bought a new stake in shares of CGI during the fourth quarter valued at approximately $94,390,000. National Bank of Canada FI grew its position in shares of CGI by 23.6% in the 3rd quarter. National Bank of Canada FI now owns 4,513,733 shares of the technology company’s stock worth $519,072,000 after buying an additional 861,771 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in 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 acquiring an additional 555,017 shares during the period. Barclays PLC lifted its position in 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 acquiring an additional 308,040 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in CGI by 1.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,290,487 shares of the technology company’s stock worth $1,876,550,000 after purchasing an additional 230,000 shares during the period. Institutional investors own 66.68% of the company’s stock.

CGI Trading Up 2.6 %

CGI stock opened at $103.09 on Friday. CGI Inc. has a one year low of $96.92 and a one year high of $122.79. The business’s fifty day moving average is $111.85 and its 200 day moving average is $112.35. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.04. The stock has a market capitalization of $23.37 billion, a PE ratio of 18.64, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96.

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

CGI Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders 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 dividend yield of 0.40%. CGI’s dividend payout ratio (DPR) is currently 7.41%.

Analyst Ratings Changes

GIB has been the subject of several recent research reports. Jefferies Financial Group lowered their target price on shares of CGI from $140.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $178.00 target price on shares of CGI in a report on Monday, January 6th. Finally, UBS Group raised their price target on CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $153.25.

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.