Magnetar Financial LLC Purchases Shares of 2,400 CGI Inc. (NYSE:GIB)

Magnetar Financial LLC purchased a new stake in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) during the fourth quarter, Holdings Channel reports. The firm purchased 2,400 shares of the technology company’s stock, valued at approximately $262,000.

Other large investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in shares of CGI by 8.6% in the third quarter. Geode Capital Management LLC now owns 998,470 shares of the technology company’s stock worth $115,844,000 after buying an additional 79,362 shares during the period. Barclays PLC increased its holdings in shares of CGI by 182.6% in the third 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. Charles Schwab Investment Management Inc. increased its holdings in shares of CGI by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 560,159 shares of the technology company’s stock worth $64,518,000 after buying an additional 21,427 shares during the period. Blue Trust Inc. increased its holdings 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 worth $134,000 after buying an additional 375 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of CGI by 21.1% in the third quarter. Wellington Management Group LLP now owns 96,516 shares of the technology company’s stock worth $11,118,000 after buying an additional 16,844 shares during the period. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Stock Up 0.1 %

Shares of NYSE:GIB opened at $98.80 on Monday. CGI Inc. has a 1 year low of $96.92 and a 1 year high of $122.79. The company has a market cap of $22.40 billion, a PE ratio of 17.87, a P/E/G ratio of 2.58 and a beta of 0.96. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.04. The stock’s 50-day moving average is $111.15 and its 200 day moving average is $111.98.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share (EPS) for the quarter, meeting 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 anticipate that CGI Inc. will post 5.79 EPS for the current year.

CGI Announces Dividend

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 payout ratio is 7.41%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GIB shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $178.00 price objective on shares of CGI in a report on Monday, January 6th. 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 lifted their price objective 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 issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $153.25.

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.