CGI Inc. (NYSE:GIB) Shares Purchased by APG Asset Management N.V.

APG Asset Management N.V. boosted its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 142.3% in the 4th quarter, HoldingsChannel reports. The firm owned 172,696 shares of the technology company’s stock after purchasing an additional 101,434 shares during the period. APG Asset Management N.V.’s holdings in CGI were worth $18,238,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of CGI during the 3rd quarter worth about $28,000. Sierra Ocean LLC purchased a new position in CGI in the fourth quarter valued at approximately $62,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in CGI in the fourth quarter valued at approximately $83,000. Hoey Investments Inc. purchased a new position in CGI in the fourth quarter valued at approximately $99,000. Finally, Blue Trust Inc. raised its holdings in CGI by 47.6% in the fourth quarter. Blue Trust Inc. now owns 1,163 shares of the technology company’s stock valued at $134,000 after buying an additional 375 shares during the period. Institutional investors and hedge funds own 66.68% of the company’s stock.

CGI Stock Up 5.5 %

GIB stock opened at $101.80 on Thursday. The firm has a 50 day simple moving average of $107.50 and a 200-day simple moving average of $110.50. CGI Inc. has a twelve month low of $92.85 and a twelve month high of $122.79. The company has a market capitalization of $23.08 billion, a P/E ratio of 18.41, a PEG ratio of 2.58 and a beta of 0.85. 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 data on Wednesday, January 29th. The technology company reported $1.41 earnings per share (EPS) 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, equities research analysts predict that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 14th were paid a dividend of $0.1039 per share. This represents a $0.42 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Friday, February 14th. CGI’s dividend payout ratio (DPR) is presently 7.41%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. UBS Group raised their price target on shares of CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Jefferies Financial Group lowered their price objective on shares of CGI from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $192.00 price objective on shares of CGI in a research report on Wednesday, March 26th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus 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.