Moseley Investment Management Inc. Invests $279,000 in CGI Inc. (NYSE:GIB)

Moseley Investment Management Inc. bought a new position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,790 shares of the technology company’s stock, valued at approximately $279,000.

A number of other hedge funds also recently bought and sold shares of GIB. Vanguard Group Inc. increased its stake in shares of CGI by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 7,942,779 shares of the technology company’s stock valued at $869,067,000 after buying an additional 128,285 shares during the period. Bank of Montreal Can boosted its holdings in CGI by 17.3% in the fourth quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company’s stock valued at $419,976,000 after acquiring an additional 567,868 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in CGI by 29.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company’s stock valued at $327,007,000 after purchasing an additional 678,431 shares during the period. Norges Bank purchased a new position in CGI during the 4th quarter valued at $286,970,000. Finally, TD Asset Management Inc. raised its holdings in CGI by 3.5% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Stock Performance

Shares of CGI stock opened at $108.10 on Tuesday. CGI Inc. has a 12 month low of $92.85 and a 12 month high of $122.79. The firm has a market capitalization of $24.51 billion, a P/E ratio of 19.55, a P/E/G ratio of 2.58 and a beta of 0.77. 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 fifty day simple moving average of $105.02 and a two-hundred day simple moving average of $108.32.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.02). The business had revenue of $2.80 billion for 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 company’s revenue was up 7.6% on a year-over-year basis. During the same period last year, the business earned $1.97 earnings per share. On average, equities analysts forecast that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.1086 per share. This represents a $0.43 annualized dividend and a dividend yield of 0.40%. This is a positive change from CGI’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, May 16th. CGI’s dividend payout ratio (DPR) is presently 7.83%.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $192.00 target price on shares of CGI in a research note on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $156.75.

CGI Company 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.