Deutsche Bank AG Buys 58,407 Shares of CGI Inc. (NYSE:GIB)

Deutsche Bank AG raised its stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 15.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 438,614 shares of the technology company’s stock after buying an additional 58,407 shares during the period. Deutsche Bank AG’s holdings in CGI were worth $47,949,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GIB. Sierra Ocean LLC acquired a new stake in shares of CGI during the 4th quarter worth approximately $62,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in CGI in the fourth quarter worth $83,000. Hoey Investments Inc. bought a new stake in CGI in the fourth quarter valued at $99,000. Blue Trust Inc. raised its holdings in shares of CGI by 47.6% during the fourth quarter. Blue Trust Inc. now owns 1,163 shares of the technology company’s stock valued at $134,000 after purchasing an additional 375 shares during the period. Finally, GeoWealth Management LLC raised its holdings in shares of CGI by 80.4% during the fourth quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company’s stock valued at $142,000 after purchasing an additional 579 shares during the period. Institutional investors own 66.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GIB shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $192.00 price target on shares of CGI in a research note on Wednesday, March 26th. Jefferies Financial Group lowered their target price on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Finally, UBS Group increased their target price on CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, CGI currently has a consensus rating of “Buy” and a consensus price target of $156.75.

CGI Stock Down 0.2%

CGI stock opened at $107.66 on Wednesday. CGI Inc. has a 1-year low of $92.85 and a 1-year high of $122.79. The firm has a market capitalization of $24.41 billion, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 2.58 and a beta of 0.78. The firm’s fifty day moving average price is $102.81 and its two-hundred day moving average price is $108.86. 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 (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.02). CGI had a net margin of 11.72% and a return on equity of 19.32%. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period last year, the business posted $1.97 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. On average, equities research analysts predict that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 16th will be issued a dividend of $0.1086 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.43 annualized dividend and a yield of 0.40%. This is an increase from CGI’s previous quarterly dividend of $0.10. CGI’s dividend payout ratio is 7.47%.

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.