Quantinno Capital Management LP Buys 1,991 Shares of CGI Inc. (NYSE:GIB)

Quantinno Capital Management LP grew its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 12.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,156 shares of the technology company’s stock after buying an additional 1,991 shares during the quarter. Quantinno Capital Management LP’s holdings in CGI were worth $1,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of GIB. Sierra Ocean LLC bought a new position in CGI in the fourth quarter valued at about $62,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of CGI in the 4th quarter worth approximately $83,000. Hoey Investments Inc. bought a new position in shares of CGI in the 4th quarter worth approximately $99,000. Blue Trust Inc. boosted its holdings in shares of CGI by 47.6% in the fourth quarter. Blue Trust Inc. now owns 1,163 shares of the technology company’s stock worth $134,000 after buying an additional 375 shares during the last quarter. Finally, GeoWealth Management LLC grew its position in 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 buying an additional 579 shares during the period. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. UBS Group increased their price target on shares of CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $192.00 target price on shares of CGI in a report on Wednesday, March 26th. Two 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $156.75.

CGI Price Performance

Shares of NYSE:GIB opened at $107.62 on Thursday. The company has a market capitalization of $24.40 billion, a P/E ratio of 19.46, a P/E/G ratio of 2.58 and a beta of 0.78. CGI Inc. has a 1-year low of $92.85 and a 1-year high of $122.79. The firm’s 50 day simple moving average is $103.34 and its two-hundred day simple moving average is $108.69. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.04.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.02). The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $4.05 billion. CGI had a net margin of 11.72% and a return on equity of 19.32%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.97 earnings per share. Research analysts expect that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Increases Dividend

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

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.