Vanguard Group Inc. Has $869.07 Million Holdings in CGI Inc. (NYSE:GIB)

Vanguard Group Inc. grew its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,942,779 shares of the technology company’s stock after buying an additional 128,285 shares during the period. Vanguard Group Inc. owned 3.50% of CGI worth $869,067,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in GIB. Canoe Financial LP acquired a new stake in CGI during the 4th quarter valued at $94,390,000. National Bank of Canada FI lifted its stake 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 worth $519,072,000 after buying an additional 861,771 shares during the last quarter. Barclays PLC boosted its holdings in shares of 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 buying an additional 308,040 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its stake in CGI by 1.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,290,487 shares of the technology company’s stock valued at $1,876,550,000 after buying an additional 230,000 shares during the last quarter. Finally, Toronto Dominion Bank raised its holdings in CGI by 23.9% in the 3rd quarter. Toronto Dominion Bank now owns 561,741 shares of the technology company’s stock valued at $64,578,000 after acquiring an additional 108,428 shares during the period. 66.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

CGI Stock Performance

NYSE:GIB opened at $98.09 on Friday. The company has a market cap of $22.24 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 2.58 and a beta of 0.96. 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 fifty day moving average price of $110.31 and a 200-day moving average price of $111.53.

CGI (NYSE:GIB) (TSE:GIB.A) last posted 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 net margin of 11.72% and a return on equity of 19.32%. As a group, equities analysts anticipate that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 14th were given a dividend of $0.1039 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.42 annualized dividend and a yield of 0.42%. 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.