Park Avenue Securities LLC Takes Position in CGI Inc. (NYSE:GIB)

Park Avenue Securities LLC acquired a new stake in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 4,512 shares of the technology company's stock, valued at approximately $450,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of CGI by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 7,942,779 shares of the technology company's stock valued at $869,067,000 after acquiring an additional 128,285 shares during the period. Bank of Montreal Can boosted its position in shares of CGI by 17.3% in the fourth quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company's stock valued at $419,976,000 after acquiring an additional 567,868 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in CGI by 29.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company's stock worth $327,007,000 after purchasing an additional 678,431 shares during the period. Norges Bank bought a new stake in CGI during the fourth quarter worth about $286,970,000. Finally, TD Asset Management Inc. lifted its position in CGI by 3.5% during the fourth quarter. TD Asset Management Inc. now owns 2,383,862 shares of the technology company's stock worth $260,697,000 after purchasing an additional 81,440 shares during the period. 66.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reaffirmed an "outperform" rating and set a $192.00 price objective on shares of CGI in a research report on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, CGI has a consensus rating of "Buy" and an average price target of $156.75.

CGI Price Performance

Shares of GIB stock traded down $1.38 on Friday, reaching $108.21. The company had a trading volume of 218,027 shares, compared to its average volume of 205,423. The stock has a market capitalization of $24.53 billion, a PE ratio of 19.57, a price-to-earnings-growth ratio of 2.58 and a beta of 0.78. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. CGI Inc. has a one year low of $92.85 and a one year high of $122.79. The business's 50-day moving average is $105.93 and its 200 day moving average is $108.25.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last released its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.02). The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $4.05 billion. CGI had a net margin of 11.72% and a return on equity of 19.32%. The business's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.97 EPS. Equities research analysts forecast that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.1086 per share. The ex-dividend date of this dividend is Friday, May 16th. This is a boost from CGI's previous quarterly dividend of $0.10. This represents a $0.43 annualized dividend and a yield of 0.40%. CGI's dividend payout ratio (DPR) is 7.83%.

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.