First Affirmative Financial Network Grows Holdings in CGI Inc. (NYSE:GIB)

First Affirmative Financial Network increased its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 3.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,905 shares of the technology company’s stock after purchasing an additional 106 shares during the quarter. First Affirmative Financial Network’s holdings in CGI were worth $290,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in CGI by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 7,942,779 shares of the technology company’s stock worth $869,067,000 after purchasing an additional 128,285 shares during the last quarter. Bank of Montreal Can boosted its holdings in CGI by 17.3% during the fourth quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company’s stock worth $419,976,000 after purchasing an additional 567,868 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in CGI by 29.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company’s stock worth $327,007,000 after purchasing an additional 678,431 shares during the last quarter. Norges Bank purchased a new position in CGI during the fourth quarter worth about $286,970,000. Finally, TD Asset Management Inc. boosted its holdings in CGI by 3.5% during the fourth quarter. TD Asset Management Inc. now owns 2,383,862 shares of the technology company’s stock worth $260,697,000 after purchasing an additional 81,440 shares during the last quarter. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

CGI Stock Up 0.2%

GIB opened at $107.92 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The stock has a market cap of $24.47 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 2.58 and a beta of 0.77. CGI Inc. has a twelve month low of $92.85 and a twelve month high of $122.79. The company’s 50-day moving average price is $104.90 and its two-hundred day moving average price is $108.37.

CGI (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, April 30th. The technology company reported $1.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.02). The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $4.05 billion. CGI had a net margin of 11.72% and a return on equity of 19.32%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.97 earnings per share. As a group, equities analysts expect that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 16th will be paid a $0.1086 dividend. This represents a $0.43 dividend on an annualized basis and a yield of 0.40%. This is a boost from CGI’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, May 16th. CGI’s payout ratio is presently 7.83%.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada restated an “outperform” rating and set a $192.00 price target on shares of CGI in a report on Wednesday, March 26th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $156.75.

About CGI

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.