BNP Paribas Financial Markets Takes Position in CGI Inc. (NYSE:GIB)

BNP Paribas Financial Markets purchased a new stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) in the fourth quarter, Holdings Channel reports. The firm purchased 15,865 shares of the technology company’s stock, valued at approximately $1,734,000.

A number of other large investors have also made changes to their positions in GIB. Sierra Ocean LLC purchased a new stake in shares of CGI in the fourth quarter valued at approximately $62,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of CGI in the fourth quarter valued at approximately $83,000. Hoey Investments Inc. purchased a new stake in shares of CGI in the fourth quarter valued at approximately $99,000. Blue Trust Inc. grew its position in shares of 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 purchasing an additional 375 shares in the last quarter. Finally, GeoWealth Management LLC lifted its holdings in CGI by 80.4% in the fourth quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company’s stock valued at $142,000 after acquiring an additional 579 shares during the last quarter. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

CGI Trading Up 0.3%

GIB opened at $108.28 on Friday. 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 business’s 50 day moving average price is $103.00 and its 200 day moving average price is $108.74. CGI Inc. has a one year low of $92.85 and a one year high of $122.79. The stock has a market capitalization of $24.55 billion, a PE ratio of 19.58, a P/E/G ratio of 2.58 and a beta of 0.78.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.02). CGI had a return on equity of 19.32% and a net margin of 11.72%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter last year, the company earned $1.97 earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, equities research analysts expect that CGI Inc. will post 5.79 EPS for the current year.

CGI Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.1086 per share. This represents a $0.43 dividend on an annualized basis and a yield of 0.40%. This is a boost from CGI’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, May 16th. CGI’s dividend payout ratio is 7.47%.

Analysts Set New Price Targets

GIB has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $192.00 price objective on shares of CGI in a report on Wednesday, March 26th. Jefferies Financial Group decreased 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 price objective on CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, CGI presently has a consensus rating of “Buy” and an average price target of $156.75.

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.