QV Investors Inc. Acquires 67,307 Shares of CGI Inc. (NYSE:GIB)

QV Investors Inc. boosted its holdings in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 12.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 605,053 shares of the technology company's stock after buying an additional 67,307 shares during the quarter. CGI accounts for about 6.1% of QV Investors Inc.'s portfolio, making the stock its 3rd largest holding. QV Investors Inc. owned about 0.27% of CGI worth $60,394,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GIB. Vanguard Group Inc. raised its position in CGI by 1.6% during 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 in the last quarter. Bank of Montreal Can grew its stake in shares of CGI by 17.3% during the 4th quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company's stock worth $419,976,000 after purchasing an additional 567,868 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of CGI by 29.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company's stock valued at $327,007,000 after purchasing an additional 678,431 shares in the last quarter. Norges Bank acquired a new position in shares of CGI in the 4th quarter valued at $286,970,000. Finally, TD Asset Management Inc. lifted its stake in shares of CGI by 3.5% in the 4th quarter. TD Asset Management Inc. now owns 2,383,862 shares of the technology company's stock valued at $260,697,000 after purchasing an additional 81,440 shares during the period. 66.68% of the stock is owned by hedge funds and other institutional investors.

CGI Trading Down 1.6%

Shares of CGI stock traded down $1.73 during trading hours on Tuesday, hitting $105.84. The company's stock had a trading volume of 350,121 shares, compared to its average volume of 201,920. The stock has a market cap of $24.00 billion, a price-to-earnings ratio of 19.14, a P/E/G ratio of 2.58 and a beta of 0.78. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31. CGI Inc. has a twelve month low of $92.85 and a twelve month high of $122.79. The firm has a fifty day moving average of $104.28 and a 200-day moving average of $108.43.

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

CGI Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 16th will be issued a dividend of $0.1086 per share. This represents a $0.43 dividend on an annualized basis and a yield of 0.41%. This is a boost from CGI's previous quarterly dividend of $0.10. The ex-dividend date is Friday, May 16th. CGI's dividend payout ratio (DPR) is 7.47%.

Analysts Set New Price Targets

GIB has been the topic of several recent analyst reports. UBS Group increased their target price 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. Royal Bank of Canada reiterated an "outperform" rating and issued a $192.00 price objective on shares of CGI in a report on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, CGI has an average rating of "Buy" and an average price target of $156.75.

About CGI

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.