DORCHESTER WEALTH MANAGEMENT Co Grows Holdings in CGI Inc. (NYSE:GIB)

DORCHESTER WEALTH MANAGEMENT Co lifted its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 3.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,521 shares of the technology company’s stock after buying an additional 3,464 shares during the quarter. CGI makes up about 2.0% of DORCHESTER WEALTH MANAGEMENT Co’s holdings, making the stock its 16th biggest holding. DORCHESTER WEALTH MANAGEMENT Co’s holdings in CGI were worth $10,026,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GIB. 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 valued at $115,844,000 after purchasing an additional 79,362 shares during the last quarter. Barclays PLC grew its position in CGI by 182.6% during the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock valued at $54,808,000 after purchasing an additional 308,040 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in CGI by 4.0% during 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 purchasing an additional 21,427 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in CGI during the 3rd quarter valued at about $825,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in CGI by 68.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock valued at $157,485,000 after purchasing an additional 555,017 shares during the last quarter. 66.68% of the stock is owned by hedge funds and other institutional investors.

CGI Stock Performance

Shares of NYSE GIB opened at $112.58 on Friday. The firm’s 50-day moving average price is $112.99 and its 200-day moving average price is $112.62. 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 company has a market cap of $25.52 billion, a PE ratio of 20.36, a PEG ratio of 2.58 and a beta of 0.94. CGI Inc. has a 52-week low of $96.92 and a 52-week high of $122.79.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data 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 net margin of 11.72% and a return on equity of 19.32%. As a group, analysts anticipate that CGI Inc. will post 5.79 EPS for the current year.

CGI Dividend Announcement

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 paid a $0.1039 dividend. This represents a $0.42 annualized dividend and a dividend yield of 0.37%. The ex-dividend date is Friday, February 14th. CGI’s dividend payout ratio (DPR) is presently 7.41%.

Analyst Upgrades and Downgrades

GIB has been the topic of several recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $178.00 price objective on shares of CGI in a research report on Monday, January 6th. UBS Group increased 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. StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Jefferies Financial Group dropped their price target on shares of CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Two investment 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. According to data from MarketBeat, CGI presently 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.