Sierra Ocean LLC Takes $62,000 Position in CGI Inc. (NYSE:GIB)

Sierra Ocean LLC acquired a new stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 567 shares of the technology company’s stock, valued at approximately $62,000.

A number of other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. lifted its position 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 in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of CGI by 66.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 65,445 shares of the technology company’s stock valued at $7,152,000 after buying an additional 26,038 shares during the last quarter. Lester Murray Antman dba SimplyRich grew its stake in shares of CGI by 1.2% during the fourth quarter. Lester Murray Antman dba SimplyRich now owns 30,397 shares of the technology company’s stock valued at $3,323,000 after buying an additional 350 shares during the last quarter. WCM Investment Management LLC grew its stake in shares of CGI by 88.3% during the fourth quarter. WCM Investment Management LLC now owns 23,634 shares of the technology company’s stock valued at $2,583,000 after buying an additional 11,082 shares during the last quarter. Finally, GHP Investment Advisors Inc. boosted its holdings in shares of CGI by 3.7% in the fourth quarter. GHP Investment Advisors Inc. now owns 44,656 shares of the technology company’s stock valued at $4,882,000 after purchasing an additional 1,591 shares during the period. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GIB has been the subject of a number of research reports. UBS Group boosted their price target on CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Jefferies Financial Group lowered their target price on CGI from $140.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Finally, 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. 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 MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $153.25.

CGI Price Performance

NYSE GIB opened at $120.45 on Tuesday. The stock’s fifty day moving average price is $112.57 and its 200 day moving average price is $112.30. The company has a market cap of $27.31 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 2.62 and a beta of 0.94. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.04. CGI Inc. has a 1 year low of $96.92 and a 1 year high of $122.79.

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 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%. As a group, equities research analysts forecast that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 14th will be paid a $0.1039 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date is Friday, February 14th. CGI’s dividend payout ratio is presently 8.32%.

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.