QV Investors Inc. Boosts Position in CGI Inc. (NYSE:GIB)

QV Investors Inc. raised its position in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 12.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 605,053 shares of the technology company's stock after acquiring an additional 67,307 shares during the period. CGI makes up approximately 6.1% of QV Investors Inc.'s holdings, making the stock its 3rd biggest holding. QV Investors Inc. owned 0.27% of CGI worth $60,394,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GIB. Sierra Ocean LLC acquired a new stake in shares of CGI in the fourth quarter valued at about $62,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of CGI in the fourth quarter valued at about $83,000. Hoey Investments Inc. acquired a new stake in shares of CGI in the fourth quarter valued at about $99,000. Versant Capital Management Inc grew its position in shares of CGI by 371.7% in the first quarter. Versant Capital Management Inc now owns 1,052 shares of the technology company's stock valued at $105,000 after purchasing an additional 829 shares during the period. Finally, Blue Trust Inc. grew its position 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 valued at $134,000 after purchasing an additional 375 shares during the period. 66.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

CGI Stock Performance

CGI stock traded up $0.15 during midday trading on Thursday, hitting $107.92. 56,547 shares of the company's stock were exchanged, compared to its average volume of 201,976. CGI Inc. has a 12-month low of $92.85 and a 12-month 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 cap of $24.47 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 2.58 and a beta of 0.78. The firm's 50 day simple moving average is $104.61 and its 200 day simple moving average is $108.41.

CGI (NYSE:GIB - Get Free Report) 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 company 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 firm's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the business earned $1.97 EPS. Equities research analysts predict that CGI Inc. will post 5.79 EPS for the current year.

CGI Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 16th will be given a $0.1086 dividend. The ex-dividend date is Friday, May 16th. This represents a $0.43 annualized dividend and a dividend yield of 0.40%. This is a positive change from CGI's previous quarterly dividend of $0.10. CGI's dividend payout ratio is presently 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.