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

Avanza Fonder AB purchased a new position in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,289 shares of the technology company's stock, valued at approximately $1,453,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GIB. Wilmington Savings Fund Society FSB purchased a new position in shares of CGI during the 3rd quarter valued at approximately $28,000. Blue Trust Inc. lifted its holdings in CGI by 288.2% during the third quarter. Blue Trust Inc. now owns 788 shares of the technology company's stock valued at $91,000 after purchasing an additional 585 shares in the last quarter. CWM LLC grew its position in shares of CGI by 14.8% in the third quarter. CWM LLC now owns 1,365 shares of the technology company's stock valued at $157,000 after purchasing an additional 176 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of CGI by 9.2% during the second quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company's stock worth $205,000 after purchasing an additional 173 shares in the last quarter. Finally, Werba Rubin Papier Wealth Management acquired a new position in shares of CGI during the 3rd quarter worth about $208,000. Institutional investors and hedge funds own 66.68% of the company's stock.

Analysts Set New Price Targets

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

CGI Trading Down 0.3 %

CGI stock traded down $0.33 during trading on Friday, reaching $108.42. 138,776 shares of the company were exchanged, compared to its average volume of 130,319. 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 stock's 50 day simple moving average is $110.48 and its two-hundred day simple moving average is $110.75. The company has a market capitalization of $24.71 billion, a P/E ratio of 20.15, a PEG ratio of 2.31 and a beta of 0.95. CGI Inc. has a 52-week low of $96.92 and a 52-week high of $118.89.

CGI Announces Dividend

The company also recently announced a -- dividend, which was paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th were issued a $0.111 dividend. The ex-dividend date was Wednesday, November 20th. This represents a 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.