Olympiad Research LP Purchases Shares of 1,858 CGI Inc. (NYSE:GIB)

Olympiad Research LP bought a new stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,858 shares of the technology company’s stock, valued at approximately $203,000.

Other hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of CGI in the 3rd quarter valued at $28,000. Sierra Ocean LLC purchased a new position in shares of CGI in the 4th quarter valued at $62,000. Blue Trust Inc. raised its stake in shares of CGI by 288.2% in the 3rd quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock valued at $91,000 after acquiring an additional 585 shares during the period. Thrivent Financial for Lutherans purchased a new position in shares of CGI in the 3rd quarter valued at $209,000. Finally, Atria Investments Inc purchased a new position in shares of CGI in the 3rd quarter valued at $218,000. Hedge funds and other institutional investors own 66.68% of the company’s stock.

Wall Street Analyst Weigh In

GIB has been the topic of a number of research reports. Jefferies Financial Group cut their target price on shares of CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $178.00 price target on shares of CGI in a research note on Monday, January 6th. StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Finally, UBS Group lifted their price target on shares of CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Two 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.com, the stock currently has a consensus rating of “Buy” and an average price target of $153.25.

CGI Stock Performance

CGI stock opened at $112.58 on Monday. The firm’s fifty day moving average price is $112.99 and its 200 day moving average price is $112.66. The company has a market capitalization of $25.52 billion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 2.58 and a beta of 0.94. CGI Inc. has a 12-month low of $96.92 and a 12-month high of $122.79. 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 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 net margin of 11.72% and a return on equity of 19.32%. On average, research analysts forecast that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 14th will be given 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 payout ratio is currently 7.41%.

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.