Bank of Montreal Can Has $419.98 Million Holdings in CGI Inc. (NYSE:GIB)

Bank of Montreal Can increased its stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 17.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,843,289 shares of the technology company’s stock after purchasing an additional 567,868 shares during the period. Bank of Montreal Can owned approximately 1.70% of CGI worth $419,976,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC grew its position 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 acquiring an additional 79,362 shares during the last quarter. Barclays PLC boosted its position in CGI by 182.6% during the third quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock valued at $54,808,000 after acquiring an additional 308,040 shares during the last quarter. Blue Trust Inc. grew its stake in CGI by 47.6% during the fourth 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 period. Jane Street Group LLC increased its stake in shares of CGI by 19.2% in the 3rd quarter. Jane Street Group LLC now owns 39,784 shares of the technology company’s stock valued at $4,574,000 after acquiring an additional 6,403 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of CGI by 21.1% during the 3rd quarter. Wellington Management Group LLP now owns 96,516 shares of the technology company’s stock worth $11,118,000 after purchasing an additional 16,844 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Price Performance

GIB opened at $96.51 on Monday. The company has a market cap of $21.88 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 2.58 and a beta of 0.85. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28. CGI Inc. has a 12-month low of $93.80 and a 12-month high of $122.79. The stock has a fifty day simple moving average of $109.23 and a two-hundred day simple moving average of $110.98.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, hitting analysts’ consensus estimates of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. Research analysts predict that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 14th were given a dividend of $0.1039 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.42 annualized dividend and a yield of 0.43%. CGI’s dividend payout ratio (DPR) is currently 7.41%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GIB. Jefferies Financial Group decreased their price target on shares of CGI from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. UBS Group boosted their price target on shares of CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $192.00 target price on shares of CGI in a research note on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $156.75.

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.