Avanza Fonder AB Makes New Investment in CGI Inc. (NYSE:GIB)

Avanza Fonder AB purchased a new stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 13,289 shares of the technology company’s stock, valued at approximately $1,453,000.

Several other hedge funds have also recently modified their holdings of the business. Kathmere Capital Management LLC increased its holdings in CGI by 18.6% during the fourth quarter. Kathmere Capital Management LLC now owns 11,594 shares of the technology company’s stock valued at $1,267,000 after buying an additional 1,817 shares during the period. Signal Advisors Wealth LLC increased its holdings in shares of CGI by 4.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 3,158 shares of the technology company’s stock valued at $345,000 after acquiring an additional 135 shares during the period. Harbour Capital Advisors LLC lifted its stake in shares of CGI by 39.4% during the 4th quarter. Harbour Capital Advisors LLC now owns 4,758 shares of the technology company’s stock worth $523,000 after purchasing an additional 1,345 shares during the last quarter. Rempart Asset Management Inc. lifted its stake in shares of CGI by 0.5% during the 4th quarter. Rempart Asset Management Inc. now owns 188,280 shares of the technology company’s stock worth $20,554,000 after purchasing an additional 1,015 shares during the last quarter. Finally, DGS Capital Management LLC grew its stake in CGI by 1.8% in the third quarter. DGS Capital Management LLC now owns 31,280 shares of the technology company’s stock valued at $3,596,000 after purchasing an additional 539 shares during the last quarter. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Price Performance

NYSE GIB opened at $108.42 on Friday. The stock’s fifty day moving average price is $110.48 and its 200 day moving average price is $110.68. CGI Inc. has a 1 year low of $96.92 and a 1 year high of $118.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.02. The company has a market cap of $24.71 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 2.31 and a beta of 0.95.

CGI Dividend Announcement

The company also recently announced a — dividend, which was paid on Friday, December 20th. Investors of record on Wednesday, November 20th were issued a dividend of $0.111 per share. This represents a dividend yield of 0.4%. The ex-dividend date was Wednesday, November 20th. CGI’s dividend payout ratio (DPR) is 8.55%.

Wall Street Analyst Weigh In

GIB has been the subject of several analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $178.00 price target on shares of CGI in a research report on Monday, January 6th. StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, CIBC raised CGI from a “neutral” rating to an “outperformer” rating and upped their target price for the company from $155.00 to $178.00 in a research report on Tuesday, October 15th. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $147.25.

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.