Forsta AP Fonden Grows Position in CGI Inc. (NYSE:GIB)

Forsta AP Fonden grew its stake in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 2.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 47,600 shares of the technology company’s stock after acquiring an additional 1,100 shares during the period. Forsta AP Fonden’s holdings in CGI were worth $5,205,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of 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 valued at $1,876,550,000 after purchasing an additional 230,000 shares during the period. National Bank of Canada FI lifted 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 acquiring an additional 861,771 shares during the period. Fiera Capital Corp lifted its position in shares of CGI by 2.7% during the 3rd quarter. Fiera Capital Corp now owns 4,384,639 shares of the technology company’s stock valued at $505,173,000 after acquiring an additional 114,864 shares during the period. Bank of Montreal Can boosted its stake in shares of CGI by 3.3% during the 3rd quarter. Bank of Montreal Can now owns 3,275,421 shares of the technology company’s stock worth $373,887,000 after acquiring an additional 104,300 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of CGI by 68.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock worth $157,485,000 after acquiring an additional 555,017 shares during the period. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the company. StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Cibc World Mkts raised shares of CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. Royal Bank of Canada restated an “outperform” rating and set a $178.00 target price on shares of CGI in a research report on Monday, January 6th. CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and increased their price target for the company from $155.00 to $178.00 in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group cut their price objective on CGI from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $150.75.

CGI Stock Down 1.0 %

GIB stock opened at $117.87 on Friday. CGI Inc. has a one year low of $96.92 and a one year high of $121.55. The stock has a market capitalization of $26.86 billion, a P/E ratio of 21.31, a PEG ratio of 2.49 and a beta of 0.95. The company has a 50 day moving average price of $110.95 and a two-hundred day moving average price of $111.32. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.02 and a current ratio of 1.36.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, meeting the consensus estimate of $1.41. CGI had a return on equity of 19.59% and a net margin of 11.72%. As a group, sell-side analysts expect that CGI Inc. will post 5.85 EPS for the current year.

CGI Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders 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 dividend yield of 0.35%. CGI’s payout ratio is 8.32%.

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.