WCM Investment Management LLC Increases Holdings in CGI Inc. (NYSE:GIB)

WCM Investment Management LLC increased its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 88.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 23,634 shares of the technology company’s stock after acquiring an additional 11,082 shares during the quarter. WCM Investment Management LLC’s holdings in CGI were worth $2,583,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of GIB. Geode Capital Management LLC grew its holdings in CGI by 8.6% in the third quarter. Geode Capital Management LLC now owns 998,470 shares of the technology company’s stock valued at $115,844,000 after purchasing an additional 79,362 shares during the last quarter. Barclays PLC boosted its position in shares of CGI by 182.6% in the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock worth $54,808,000 after buying an additional 308,040 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in CGI by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 560,159 shares of the technology company’s stock valued at $64,518,000 after acquiring an additional 21,427 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in CGI during the 3rd quarter valued at about $825,000. 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 during the last quarter. 66.68% of the stock is owned by hedge funds and other institutional investors.

CGI Trading Up 1.6 %

Shares of CGI stock opened at $120.92 on Tuesday. CGI Inc. has a fifty-two week low of $96.92 and a fifty-two week high of $121.55. The business’s fifty day moving average is $111.73 and its two-hundred day moving average is $111.89. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The firm has a market cap of $27.42 billion, a PE ratio of 21.87, a P/E/G ratio of 2.62 and a beta of 0.94.

CGI (NYSE:GIB) (TSE:GIB.A) last released its 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%. Analysts anticipate that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on GIB shares. StockNews.com upgraded shares of CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. Jefferies Financial Group dropped their price target on CGI from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Royal Bank of Canada restated an “outperform” rating and issued a $178.00 price objective on shares of CGI in a research report on Monday, January 6th. Finally, UBS Group lifted 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 research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, CGI presently has a consensus 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.