Ewing Morris & Co. Investment Partners Ltd. Takes Position in CGI Inc. (NYSE:GIB)

Ewing Morris & Co. Investment Partners Ltd. acquired a new position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 9,032 shares of the technology company’s stock, valued at approximately $987,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Barclays PLC raised its stake in shares of CGI by 182.6% in 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. Wilmington Savings Fund Society FSB purchased a new stake in CGI in the third quarter valued at approximately $28,000. Harbour Capital Advisors LLC boosted its position in shares of CGI by 39.4% during the fourth quarter. Harbour Capital Advisors LLC now owns 4,758 shares of the technology company’s stock worth $523,000 after buying an additional 1,345 shares during the period. Signal Advisors Wealth LLC grew its stake in shares of CGI by 4.5% in the fourth quarter. Signal Advisors Wealth LLC now owns 3,158 shares of the technology company’s stock valued at $345,000 after buying an additional 135 shares in the last quarter. Finally, Kathmere Capital Management LLC raised its holdings in shares of CGI by 18.6% in the 4th quarter. Kathmere Capital Management LLC now owns 11,594 shares of the technology company’s stock valued at $1,267,000 after buying an additional 1,817 shares during the period. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GIB. Royal Bank of Canada restated an “outperform” rating and set a $192.00 target price on shares of CGI in a report on Wednesday, March 26th. UBS Group lifted their price objective on shares of CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, Jefferies Financial Group reduced their target price on shares of CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, CGI has a consensus rating of “Buy” and a consensus price target of $156.75.

CGI Stock Performance

Shares of CGI stock opened at $106.28 on Friday. The business has a 50-day simple moving average of $102.59 and a 200-day simple moving average of $109.03. The company has a market cap of $24.10 billion, a PE ratio of 19.22, a P/E/G ratio of 2.58 and a beta of 0.78. CGI Inc. has a one year low of $92.85 and a one year high of $122.79. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.02). The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $4.05 billion. CGI had a net margin of 11.72% and a return on equity of 19.32%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.97 earnings per share. On average, equities research analysts forecast that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 16th will be given a dividend of $0.1086 per share. This is a boost from CGI’s previous quarterly dividend of $0.10. This represents a $0.43 annualized dividend and a dividend yield of 0.41%. The ex-dividend date is Friday, May 16th. CGI’s dividend payout ratio is currently 7.47%.

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.