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

Natixis Advisors LLC cut its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of 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 purchasing an additional 230,000 shares during the period. National Bank of Canada FI lifted 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 acquiring an additional 861,771 shares in the last quarter. Bank of Montreal Can lifted 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 acquiring an additional 104,300 shares in the last quarter. Cibc World Market Inc. lifted its stake in CGI by 2.1% during the 4th quarter. Cibc World Market Inc. now owns 1,978,249 shares of the technology company’s stock worth $216,369,000 after acquiring an additional 40,492 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in CGI by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 998,470 shares of the technology company’s stock worth $115,844,000 after acquiring an additional 79,362 shares in the last quarter. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

CGI Price Performance

GIB 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. The firm has a market capitalization of $22.40 billion, a P/E ratio of 17.87, a P/E/G ratio of 2.58 and a beta of 0.96. The business’s 50-day moving average is $111.15 and its two-hundred day moving average is $111.98. CGI Inc. has a 1 year low of $96.92 and a 1 year high of $122.79.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share for the quarter, hitting the consensus estimate of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. Analysts anticipate that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 14th were given a dividend of $0.1039 per share. This represents a $0.42 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Friday, February 14th. CGI’s dividend payout ratio (DPR) is presently 7.41%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GIB. Royal Bank of Canada reissued an “outperform” rating and set a $178.00 target price on shares of CGI in a research note on Monday, January 6th. 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 note on Tuesday, January 21st. Finally, UBS Group increased their target price on CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $153.25.

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.