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

Maryland State Retirement & Pension System grew its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 5.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,297 shares of the technology company’s stock after buying an additional 3,618 shares during the quarter. Maryland State Retirement & Pension System’s holdings in CGI were worth $7,251,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Atria Investments Inc bought a new position in CGI in the third quarter valued at approximately $218,000. Natixis Advisors LLC raised its stake in shares of CGI by 18.2% during the 3rd quarter. Natixis Advisors LLC now owns 23,165 shares of the technology company’s stock worth $2,663,000 after purchasing an additional 3,564 shares in the last quarter. Thrivent Financial for Lutherans acquired a new stake in shares of CGI in the 3rd quarter valued at approximately $209,000. West Family Investments Inc. grew its stake in shares of CGI by 5.5% in the third quarter. West Family Investments Inc. now owns 2,323 shares of the technology company’s stock valued at $267,000 after buying an additional 121 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in CGI by 68.2% during the third 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. Institutional investors own 66.68% of the company’s stock.

CGI Stock Performance

Shares of GIB stock opened at $103.29 on Wednesday. The company has a market capitalization of $23.42 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 2.58 and a beta of 0.96. 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 has a 50-day simple moving average of $111.66 and a 200 day simple moving average of $112.24.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its earnings results 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%. On average, sell-side analysts predict that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GIB. UBS Group lifted their price objective on shares of CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $178.00 price target on shares of CGI in a report on Monday, January 6th. Finally, Jefferies Financial Group dropped their price objective on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $153.25.

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.