Ethic Inc. Acquires New Holdings in CGI Inc. (NYSE:GIB)

Ethic Inc. acquired a new stake in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,004 shares of the technology company’s stock, valued at approximately $547,000.

A number of other institutional investors also recently modified their holdings of the company. Metis Global Partners LLC raised its position in shares of CGI by 1.0% in the fourth quarter. Metis Global Partners LLC now owns 10,534 shares of the technology company’s stock valued at $1,153,000 after purchasing an additional 108 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of CGI by 0.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 31,209 shares of the technology company’s stock valued at $3,412,000 after acquiring an additional 111 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of CGI by 0.9% during the fourth quarter. Ameriprise Financial Inc. now owns 12,619 shares of the technology company’s stock valued at $1,380,000 after acquiring an additional 115 shares during the period. Manhattan West Asset Management LLC raised its holdings in shares of CGI by 0.5% in the fourth quarter. Manhattan West Asset Management LLC now owns 25,425 shares of the technology company’s stock valued at $2,779,000 after buying an additional 126 shares during the last quarter. Finally, Signal Advisors Wealth LLC raised its holdings 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 during the last quarter. Institutional investors own 66.68% of the company’s stock.

CGI Stock Up 1.0%

CGI stock opened at $107.95 on Friday. The company has a market cap of $24.48 billion, a P/E ratio of 19.52, a price-to-earnings-growth ratio of 2.58 and a beta of 0.78. CGI Inc. has a 1-year low of $92.85 and a 1-year high of $122.79. The company has a fifty day simple moving average of $102.92 and a 200 day simple moving average of $108.81. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings results 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 analyst estimates of $4.05 billion. CGI had a net margin of 11.72% and a return on equity of 19.32%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.97 EPS. Research analysts anticipate that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 16th will be paid a $0.1086 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.43 dividend on an annualized basis and a yield of 0.40%. This is a boost from CGI’s previous quarterly dividend of $0.10. CGI’s dividend payout ratio (DPR) is currently 7.47%.

Wall Street Analysts Forecast Growth

GIB has been the subject of a number of research analyst reports. Jefferies Financial Group cut their price target on CGI from $140.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. UBS Group increased their target price on shares of CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $192.00 target price on shares of CGI in a report on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, CGI presently has an average rating of “Buy” and a consensus target price of $156.75.

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.