CGI Inc. (NYSE:GIB) Shares Purchased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ increased its stake in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 65.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,206 shares of the technology company’s stock after purchasing an additional 20,195 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in CGI were worth $5,597,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in 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 purchasing an additional 79,362 shares in the last quarter. Barclays PLC boosted its position in shares of CGI by 182.6% during the 3rd 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. boosted its position in shares of CGI by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 560,159 shares of the technology company’s stock worth $64,518,000 after acquiring an additional 21,427 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in shares of CGI during the 3rd quarter worth about $825,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of CGI by 68.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock worth $157,485,000 after acquiring an additional 555,017 shares in the last quarter. 66.68% of the stock is owned by institutional investors and hedge funds.

CGI Stock Up 2.6 %

CGI stock opened at $103.09 on Friday. CGI Inc. has a fifty-two week low of $96.92 and a fifty-two week high of $122.79. 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 company has a market capitalization of $23.37 billion, a P/E ratio of 18.64, a PEG ratio of 2.58 and a beta of 0.96. The stock has a 50-day simple moving average of $111.85 and a 200-day simple moving average of $112.35.

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 return on equity of 19.32% and a net margin of 11.72%. Equities research analysts expect that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 14th will be given a dividend of $0.1039 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.42 dividend on an annualized basis and a yield of 0.40%. CGI’s payout ratio is 7.41%.

Analysts Set New Price Targets

Several research firms have recently issued reports on GIB. Royal Bank of Canada reaffirmed an “outperform” rating and set a $178.00 price objective on shares of CGI in a research report on Monday, January 6th. Jefferies Financial Group lowered their price objective on CGI from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Finally, UBS Group upped their price objective on CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $153.25.

About CGI

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.