Hoey Investments Inc. Makes New $99,000 Investment in CGI Inc. (NYSE:GIB)

Hoey Investments Inc. acquired a new stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 910 shares of the technology company’s stock, valued at approximately $99,000.

A number of other hedge funds also recently modified their holdings of GIB. Wellington Management Group LLP raised its holdings in CGI by 5.8% in the 4th quarter. Wellington Management Group LLP now owns 102,080 shares of the technology company’s stock valued at $11,163,000 after acquiring an additional 5,564 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of CGI by 840.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,244 shares of the technology company’s stock worth $354,000 after purchasing an additional 2,899 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of CGI by 29.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company’s stock worth $327,007,000 after purchasing an additional 678,431 shares during the period. Orion Portfolio Solutions LLC lifted its holdings in CGI by 8.9% during the 4th quarter. Orion Portfolio Solutions LLC now owns 9,898 shares of the technology company’s stock worth $1,082,000 after purchasing an additional 805 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in CGI by 20.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 166,731 shares of the technology company’s stock valued at $18,233,000 after purchasing an additional 27,792 shares during the period. Institutional investors and hedge funds own 66.68% of the company’s stock.

CGI Stock Down 1.2 %

GIB stock opened at $98.09 on Monday. CGI Inc. has a 52 week low of $96.92 and a 52 week high of $122.79. The business has a 50-day simple moving average of $110.31 and a 200 day simple moving average of $111.50. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The company has a market cap of $22.24 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, meeting the consensus estimate of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. Sell-side analysts anticipate that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 14th were paid a $0.1039 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.42 annualized dividend and a dividend yield of 0.42%. CGI’s payout ratio is 7.41%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Jefferies Financial Group lowered their price objective on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $192.00 price objective on shares of CGI in a research note on Wednesday, March 26th. Finally, UBS Group boosted their price objective on shares of CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Two 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 company’s stock. Based on data from MarketBeat.com, the stock has an average 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.