Pictet Asset Management Holding SA Has $18.23 Million Stock Position in CGI Inc. (NYSE:GIB)

Pictet Asset Management Holding SA raised its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 20.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 166,731 shares of the technology company’s stock after purchasing an additional 27,792 shares during the quarter. Pictet Asset Management Holding SA’s holdings in CGI were worth $18,233,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Metis Global Partners LLC boosted its stake in 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 buying an additional 108 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of CGI by 0.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 31,209 shares of the technology company’s stock worth $3,412,000 after acquiring an additional 111 shares during the last quarter. Signal Advisors Wealth LLC boosted its stake in shares of CGI by 4.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 3,158 shares of the technology company’s stock valued at $345,000 after purchasing an additional 135 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of CGI during the 3rd quarter valued at approximately $28,000. Finally, PCJ Investment Counsel Ltd. increased its position in CGI by 3.1% during the 4th quarter. PCJ Investment Counsel Ltd. now owns 10,960 shares of the technology company’s stock worth $1,198,000 after purchasing an additional 330 shares in the last quarter. Institutional investors own 66.68% of the company’s stock.

Wall Street Analysts Forecast Growth

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

CGI Stock Performance

NYSE GIB opened at $100.83 on Wednesday. The company has a market capitalization of $22.86 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 2.58 and a beta of 0.96. CGI Inc. has a twelve month low of $96.75 and a twelve month high of $122.79. The stock has a fifty day simple moving average of $109.94 and a 200 day simple moving average of $111.29. 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 (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. Sell-side analysts expect that CGI Inc. will post 5.79 EPS for the current year.

CGI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 14th were paid a $0.1039 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Friday, February 14th. CGI’s dividend payout ratio is currently 7.41%.

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.