Andra AP fonden Has $14.05 Million Stake in CGI Inc. (NYSE:GIB)

Andra AP fonden increased its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 45.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 128,500 shares of the technology company’s stock after purchasing an additional 39,935 shares during the period. Andra AP fonden’s holdings in CGI were worth $14,048,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in CGI by 8.6% in the 3rd quarter. Geode Capital Management LLC now owns 998,470 shares of the technology company’s stock worth $115,844,000 after purchasing an additional 79,362 shares during the period. Barclays PLC boosted its stake in CGI by 182.6% in the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock worth $54,808,000 after purchasing an additional 308,040 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in CGI by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 560,159 shares of the technology company’s stock worth $64,518,000 after purchasing an additional 21,427 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in CGI in the 3rd quarter worth approximately $825,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in 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 purchasing an additional 555,017 shares during the period. Institutional investors and hedge funds own 66.68% of the company’s stock.

Analysts Set New Price Targets

GIB has been the subject of a number of recent analyst reports. Jefferies Financial Group decreased their price objective on shares of CGI from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Royal Bank of Canada reissued an “outperform” rating and set a $178.00 target price on shares of CGI in a research note on Monday, January 6th. StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Finally, UBS Group lifted their target price on shares of CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $153.25.

CGI Stock Up 1.4 %

CGI stock opened at $104.99 on Friday. The company has a market capitalization of $23.81 billion, a P/E ratio of 18.99, a P/E/G ratio of 2.58 and a beta of 0.96. The firm’s fifty day simple moving average is $112.47 and its 200-day simple moving average is $112.56. 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 Inc. has a 1-year low of $96.92 and a 1-year high of $122.79.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. Sell-side analysts forecast that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Announces Dividend

The firm also recently declared 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 0.40%. CGI’s dividend payout ratio is currently 7.41%.

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.