Haven Global Partners LLC Takes $10.71 Million Position in CGI Inc. (NYSE:GIB)

Haven Global Partners LLC purchased a new position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) during the fourth quarter, Holdings Channel reports. The fund purchased 97,939 shares of the technology company’s stock, valued at approximately $10,711,000. CGI makes up about 10.1% of Haven Global Partners LLC’s holdings, making the stock its 6th largest position.

Several other institutional investors also recently added to or reduced their stakes in GIB. Wilmington Savings Fund Society FSB purchased a new position in CGI in the third quarter valued at about $28,000. Blue Trust Inc. lifted its stake in CGI by 288.2% in the third quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock valued at $91,000 after purchasing an additional 585 shares during the last quarter. CWM LLC grew its holdings in CGI by 14.8% during the third quarter. CWM LLC now owns 1,365 shares of the technology company’s stock valued at $157,000 after purchasing an additional 176 shares during the period. Werba Rubin Papier Wealth Management purchased a new stake in CGI in the third quarter worth $208,000. Finally, Thrivent Financial for Lutherans bought a new stake in shares of CGI in the third quarter valued at $209,000. Institutional investors own 66.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GIB. Royal Bank of Canada reissued an “outperform” rating and issued a $178.00 price objective on shares of CGI in a report on Monday, January 6th. Cibc World Mkts raised shares of CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and boosted their target price for the company from $155.00 to $178.00 in a report on Tuesday, October 15th. Finally, Jefferies Financial Group cut their price target on CGI from $140.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, CGI currently has a consensus rating of “Buy” and an average target price of $150.75.

CGI Stock Performance

NYSE GIB opened at $117.87 on Friday. The company’s 50 day simple moving average is $111.08 and its two-hundred day simple moving average is $111.41. The stock has a market capitalization of $26.86 billion, a PE ratio of 21.31, a P/E/G ratio of 2.49 and a beta of 0.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.02. CGI Inc. has a 1 year low of $96.92 and a 1 year high of $121.55.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.41. CGI had a return on equity of 19.59% and a net margin of 11.72%. Analysts predict that CGI Inc. will post 5.85 earnings per share for the current fiscal year.

CGI Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend is Friday, February 14th. CGI’s payout ratio is 7.41%.

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.