Natixis Advisors LLC Reduces Position in CGI Inc. (NYSE:GIB)

Natixis Advisors LLC lessened its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 3.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 22,422 shares of the technology company’s stock after selling 743 shares during the quarter. Natixis Advisors LLC’s holdings in CGI were worth $2,451,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec grew its stake in CGI by 1.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,290,487 shares of the technology company’s stock worth $1,876,550,000 after buying an additional 230,000 shares during the last quarter. National Bank of Canada FI grew its stake in CGI by 23.6% during the 3rd quarter. National Bank of Canada FI now owns 4,513,733 shares of the technology company’s stock worth $519,072,000 after buying an additional 861,771 shares during the last quarter. Bank of Montreal Can grew its stake in CGI by 3.3% during the 3rd quarter. Bank of Montreal Can now owns 3,275,421 shares of the technology company’s stock worth $373,887,000 after buying an additional 104,300 shares during the last quarter. Cibc World Market Inc. grew its stake in shares of CGI by 2.1% in the 4th quarter. Cibc World Market Inc. now owns 1,978,249 shares of the technology company’s stock valued at $216,369,000 after purchasing an additional 40,492 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of CGI by 8.6% in the 3rd quarter. Geode Capital Management LLC now owns 998,470 shares of the technology company’s stock valued at $115,844,000 after purchasing an additional 79,362 shares during the last quarter. Hedge funds and other institutional investors own 66.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GIB shares. UBS Group lifted their target price on CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Jefferies Financial Group lowered their target price on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $178.00 target price on shares of CGI in a research note on Monday, January 6th. 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 company’s stock. According to data from MarketBeat, CGI presently has an average rating of “Buy” and a consensus target price of $153.25.

CGI Stock Up 0.1 %

CGI stock opened at $98.80 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.04. CGI Inc. has a 1-year low of $96.92 and a 1-year high of $122.79. The company has a market cap of $22.40 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96. The stock’s 50 day moving average price is $111.15 and its 200 day moving average price is $111.98.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. On average, sell-side analysts predict 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 issued a dividend of $0.1039 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.42 annualized dividend and a yield of 0.42%. CGI’s dividend payout ratio is presently 7.41%.

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.