Maryland State Retirement & Pension System Purchases 3,618 Shares of CGI Inc. (NYSE:GIB)

Maryland State Retirement & Pension System boosted its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 5.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 66,297 shares of the technology company’s stock after purchasing an additional 3,618 shares during the quarter. Maryland State Retirement & Pension System’s holdings in CGI were worth $7,251,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in shares of CGI during the third quarter worth approximately $28,000. Sierra Ocean LLC bought a new stake in shares of CGI during the 4th quarter valued at $62,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of CGI in the 4th quarter valued at $83,000. Blue Trust Inc. boosted its position in shares of CGI by 47.6% in the 4th quarter. Blue Trust Inc. now owns 1,163 shares of the technology company’s stock worth $134,000 after purchasing an additional 375 shares during the last quarter. Finally, Olympiad Research LP acquired a new stake in shares of CGI during the fourth quarter worth $203,000. 66.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Royal Bank of Canada restated an “outperform” rating and set a $178.00 target price on shares of CGI in a report on Monday, January 6th. 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. Finally, Jefferies Financial Group reduced their price target on shares of CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Two research 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. Based on data from MarketBeat.com, CGI presently has a consensus rating of “Buy” and a consensus target price of $153.25.

CGI Stock Performance

Shares of GIB stock opened at $103.29 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31. CGI Inc. has a 52 week low of $96.92 and a 52 week high of $122.79. The company’s 50 day moving average price is $111.66 and its two-hundred day moving average price is $112.24. The company has a market capitalization of $23.42 billion, a P/E ratio of 18.68, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data 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%. On average, analysts expect that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 14th will be issued a dividend of $0.1039 per share. The ex-dividend date is Friday, February 14th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.40%. CGI’s payout ratio is presently 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.