Aviva PLC Grows Stock Holdings in CGI Inc. (NYSE:GIB)

Aviva PLC increased its holdings in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 1,027.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 122,729 shares of the technology company's stock after acquiring an additional 111,844 shares during the period. Aviva PLC owned about 0.05% of CGI worth $13,402,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GIB. Wells Fargo & Company MN boosted its stake in shares of CGI by 10.8% during the fourth quarter. Wells Fargo & Company MN now owns 8,514 shares of the technology company's stock valued at $931,000 after purchasing an additional 829 shares in the last quarter. Pitcairn Co. increased its holdings in shares of CGI by 9.0% in the fourth quarter. Pitcairn Co. now owns 10,455 shares of the technology company's stock valued at $1,143,000 after purchasing an additional 861 shares during the period. ExodusPoint Capital Management LP raised its position in CGI by 69.1% during the 4th quarter. ExodusPoint Capital Management LP now owns 11,600 shares of the technology company's stock worth $1,268,000 after buying an additional 4,739 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of CGI by 27.5% during the fourth quarter. Geode Capital Management LLC now owns 1,272,840 shares of the technology company's stock worth $140,266,000 after purchasing an additional 274,370 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of CGI by 1.6% in the 4th quarter. Franklin Resources Inc. now owns 134,787 shares of the technology company's stock valued at $14,729,000 after buying an additional 2,075 shares during the period. 66.68% of the stock is owned by hedge funds and other institutional investors.

CGI Stock Performance

Shares of CGI stock traded up $3.82 during trading hours on Friday, hitting $102.03. 410,298 shares of the company were exchanged, compared to its average volume of 195,366. CGI Inc. has a 1 year low of $92.85 and a 1 year high of $122.79. The stock has a market capitalization of $23.13 billion, a price-to-earnings ratio of 18.45, a P/E/G ratio of 2.58 and a beta of 0.85. 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 business has a 50-day moving average of $106.77 and a 200-day moving average of $110.26.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, hitting analysts' consensus estimates of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. As a group, analysts expect that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 14th were paid a dividend of $0.1039 per share. This represents a $0.42 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Friday, February 14th. CGI's payout ratio is 7.41%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GIB. Jefferies Financial Group decreased their target price on CGI from $140.00 to $135.00 and set a "buy" rating on the stock in a research report on Tuesday, January 21st. Royal Bank of Canada restated an "outperform" rating and set a $192.00 price target on shares of CGI in a research report on Wednesday, March 26th. Finally, UBS Group upped their price target on CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, CGI currently has an average rating of "Buy" and an average target price of $156.75.

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.