BNP Paribas Financial Markets Takes $1.73 Million Position in CGI Inc. (NYSE:GIB)

BNP Paribas Financial Markets acquired a new stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 15,865 shares of the technology company’s stock, valued at approximately $1,734,000.

Several other institutional investors and hedge funds have also modified their holdings of GIB. Norges Bank acquired a new position in shares of CGI in the 4th quarter valued at about $286,970,000. Canoe Financial LP acquired a new position in shares of CGI in the 4th quarter valued at about $94,390,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of CGI by 29.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company’s stock valued at $327,007,000 after buying an additional 678,431 shares during the period. Bank of Montreal Can lifted its holdings in shares of CGI by 17.3% in the 4th quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company’s stock valued at $419,976,000 after buying an additional 567,868 shares during the period. Finally, Barclays PLC lifted its holdings 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 buying an additional 308,040 shares during the period. Institutional investors and hedge funds own 66.68% of the company’s stock.

CGI Price Performance

Shares of CGI stock opened at $108.28 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. CGI Inc. has a twelve month low of $92.85 and a twelve month high of $122.79. The business has a 50-day moving average price of $103.00 and a 200 day moving average price of $108.74. The firm has a market cap of $24.55 billion, a PE ratio of 19.58, a P/E/G ratio of 2.58 and a beta of 0.78.

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

CGI Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.1086 per share. This is a positive change from CGI’s previous quarterly dividend of $0.10. This represents a $0.43 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Friday, May 16th. CGI’s payout ratio is 7.47%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on GIB shares. UBS Group boosted their price objective on CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. 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 research note on Tuesday, January 21st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $192.00 price target on shares of CGI in a research note 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, CGI presently has an average rating of “Buy” and an average price target of $156.75.

CGI 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.