Cumberland Partners Ltd Takes Position in CGI Inc. (NYSE:GIB)

Cumberland Partners Ltd acquired a new stake in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 2,210 shares of the technology company’s stock, valued at approximately $242,000.

Several other institutional investors have also recently modified their holdings of GIB. Canoe Financial LP bought a new position in shares of CGI during the 4th quarter valued at about $94,390,000. National Bank of Canada FI increased its position in shares of CGI by 23.6% during the 3rd quarter. National Bank of Canada FI now owns 4,513,733 shares of the technology company’s stock valued at $519,072,000 after purchasing an additional 861,771 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in CGI by 68.2% during 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 acquiring an additional 555,017 shares during the last quarter. Barclays PLC grew its position in CGI by 182.6% during the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock worth $54,808,000 after acquiring an additional 308,040 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in CGI by 1.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,290,487 shares of the technology company’s stock worth $1,876,550,000 after acquiring an additional 230,000 shares during the last quarter. 66.68% of the stock is currently owned by institutional investors.

CGI Trading Down 1.0 %

NYSE GIB opened at $117.33 on Friday. CGI Inc. has a fifty-two week low of $96.92 and a fifty-two week 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. The stock has a 50 day simple moving average of $112.89 and a two-hundred day simple moving average of $112.49. The stock has a market cap of $26.60 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 2.63 and a beta of 0.94.

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

CGI Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 14th will be issued a $0.1039 dividend. This represents a $0.42 annualized dividend and a yield of 0.35%. The ex-dividend date is Friday, February 14th. CGI’s dividend payout ratio (DPR) is currently 7.41%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GIB shares. Royal Bank of Canada restated an “outperform” rating and set a $178.00 price target on shares of CGI in a research report on Monday, January 6th. StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. UBS Group raised their price target on CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Jefferies Financial Group reduced their price target on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Two equities 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. According to MarketBeat.com, CGI presently has a consensus rating of “Buy” and a consensus target price of $153.25.

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.