Prudential Financial Inc. Has $1.90 Million Stake in CGI Inc. (NYSE:GIB)

Prudential Financial Inc. lifted its stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 158.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 17,400 shares of the technology company’s stock after acquiring an additional 10,655 shares during the quarter. Prudential Financial Inc.’s holdings in CGI were worth $1,903,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Wilmington Savings Fund Society FSB purchased a new position in shares of CGI during the 3rd quarter valued at $28,000. Sierra Ocean LLC acquired a new stake in CGI during the fourth quarter valued at $62,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in CGI in the fourth quarter valued at about $83,000. Blue Trust Inc. grew its stake in CGI by 47.6% in 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 in the last quarter. Finally, Olympiad Research LP purchased a new stake in shares of CGI during the 4th quarter worth about $203,000. 66.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Stock Performance

Shares of CGI stock opened at $96.51 on Friday. CGI Inc. has a 52 week low of $95.75 and a 52 week high of $122.79. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31. The stock has a market capitalization of $21.88 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 2.58 and a beta of 0.96. The firm has a fifty day moving average of $109.23 and a two-hundred day moving average of $111.02.

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 (EPS) for the quarter, meeting analysts’ consensus estimates of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. As a group, equities research analysts predict that CGI Inc. will post 5.79 EPS for the current year.

CGI Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 14th were paid a $0.1039 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Friday, February 14th. CGI’s payout ratio is presently 7.41%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Royal Bank of Canada reiterated 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 price target on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Finally, UBS Group boosted their price objective 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 investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $156.75.

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.