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

Avanza Fonder AB bought a new stake in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 13,289 shares of the technology company’s stock, valued at approximately $1,453,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. American Century Companies Inc. lifted its position in CGI by 2.0% during the second quarter. American Century Companies Inc. now owns 27,896 shares of the technology company’s stock valued at $2,784,000 after purchasing an additional 540 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of CGI by 15.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,488 shares of the technology company’s stock valued at $248,000 after acquiring an additional 331 shares during the last quarter. Dimensional Fund Advisors LP grew its position in CGI by 22.3% in the second quarter. Dimensional Fund Advisors LP now owns 625,106 shares of the technology company’s stock worth $62,394,000 after acquiring an additional 113,903 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in CGI by 23.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,301 shares of the technology company’s stock valued at $1,406,000 after purchasing an additional 2,737 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of CGI in the 2nd quarter valued at approximately $230,000. 66.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and set a $178.00 target price on shares of CGI in a research report on Monday, January 6th. StockNews.com upgraded shares of CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and lifted their price target for the stock from $155.00 to $178.00 in a research note on Tuesday, October 15th. Finally, Cibc World Mkts raised shares of CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $147.25.

CGI Trading Down 0.3 %

Shares of GIB opened at $108.42 on Friday. 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 firm has a market capitalization of $24.71 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 2.31 and a beta of 0.95. The company has a 50-day moving average of $110.48 and a 200 day moving average of $110.68. CGI Inc. has a 1-year low of $96.92 and a 1-year high of $118.89.

CGI Dividend Announcement

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

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.