First Trust Advisors LP Has $10.45 Million Position in CGI Inc. (NYSE:GIB)

First Trust Advisors LP raised its stake in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 23.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,532 shares of the technology company's stock after acquiring an additional 18,421 shares during the quarter. First Trust Advisors LP's holdings in CGI were worth $10,448,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in 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 purchasing an additional 128,285 shares during the last quarter. Bank of Montreal Can raised its holdings in CGI by 17.3% in the 4th quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company's stock valued at $419,976,000 after buying an additional 567,868 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in CGI by 29.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company's stock worth $327,007,000 after buying an additional 678,431 shares during the period. Norges Bank bought a new stake in CGI during the 4th quarter worth approximately $286,970,000. Finally, TD Asset Management Inc. grew its holdings in CGI by 3.5% during the 4th quarter. TD Asset Management Inc. now owns 2,383,862 shares of the technology company's stock worth $260,697,000 after acquiring an additional 81,440 shares during the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. 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 report on Monday, February 3rd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $192.00 target price on shares of CGI in a report on Wednesday, March 26th. Finally, Jefferies Financial Group reduced their price target on CGI from $140.00 to $135.00 and set a "buy" rating on the stock in a research report on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, CGI presently has a consensus rating of "Buy" and a consensus price target of $156.75.

CGI Trading Up 0.5 %

GIB stock traded up $0.53 during midday trading on Friday, hitting $104.90. The stock had a trading volume of 302,491 shares, compared to its average volume of 201,336. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28. The firm has a market cap of $23.78 billion, a P/E ratio of 18.97, a price-to-earnings-growth ratio of 2.58 and a beta of 0.85. The business has a fifty day moving average price of $102.72 and a two-hundred day moving average price of $109.22. CGI Inc. has a 1-year low of $92.85 and a 1-year high of $122.79.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last issued its quarterly earnings results 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 business 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%. CGI's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm posted $1.97 earnings per share. On average, sell-side analysts predict that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 16th will be issued a $0.1086 dividend. 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 presently 7.47%.

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.