Summit Global Investments Invests $463,000 in CGI Inc. (NYSE:GIB)

Summit Global Investments bought a new stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,231 shares of the technology company’s stock, valued at approximately $463,000.

A number of other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of CGI by 8.6% during the 3rd 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 boosted its stake in CGI by 182.6% during the third quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock worth $54,808,000 after acquiring an additional 308,040 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in 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 purchasing an additional 21,427 shares during the period. Blue Trust Inc. increased its stake in 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, Wellington Management Group LLP raised its holdings in shares of CGI by 21.1% during the third quarter. Wellington Management Group LLP now owns 96,516 shares of the technology company’s stock valued at $11,118,000 after purchasing an additional 16,844 shares during the period. Institutional investors own 66.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $178.00 target price on shares of CGI in a research 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 for the company in a report on Tuesday, January 21st. Finally, UBS Group increased their target price on CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $153.25.

CGI Stock Performance

Shares of GIB opened at $100.12 on Tuesday. The firm has a market capitalization of $22.70 billion, a P/E ratio of 18.10, a P/E/G ratio of 2.58 and a beta of 0.96. CGI Inc. has a 52 week low of $96.92 and a 52 week high of $122.79. The stock has a 50 day moving average price of $110.99 and a two-hundred day moving average price of $111.89. 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 (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, hitting the consensus estimate of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. Equities analysts forecast that CGI Inc. will post 5.79 earnings per share for the current fiscal 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 $0.1039 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Friday, February 14th. CGI’s payout ratio is 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.