Axa S.A. Has $19.17 Million Stock Position in CGI Inc. (NYSE:GIB)

AXA S.A. cut its stake in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 175,377 shares of the technology company's stock after selling 2,499 shares during the quarter. AXA S.A. owned 0.08% of CGI worth $19,172,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position 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 worth $869,067,000 after acquiring an additional 128,285 shares in the last quarter. Bank of Montreal Can increased its holdings in CGI by 17.3% during the 4th 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 in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of CGI by 29.3% in 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 bought a new stake in shares of CGI in the fourth quarter valued at about $286,970,000. Finally, TD Asset Management Inc. lifted its holdings in shares of CGI by 3.5% in the fourth quarter. TD Asset Management Inc. now owns 2,383,862 shares of the technology company's stock valued at $260,697,000 after purchasing an additional 81,440 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

CGI Stock Up 0.3 %

Shares of NYSE GIB traded up $0.28 during trading hours on Thursday, hitting $106.28. The company had a trading volume of 225,894 shares, compared to its average volume of 200,554. CGI Inc. has a 1-year low of $92.85 and a 1-year high of $122.79. 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 firm's 50 day moving average is $102.52 and its 200-day moving average is $109.09. The stock has a market capitalization of $24.10 billion, a P/E ratio of 19.22, a price-to-earnings-growth ratio of 2.58 and a beta of 0.78.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.48 EPS for the quarter, missing analysts' consensus estimates of $1.50 by ($0.02). CGI had a net margin of 11.72% and a return on equity of 19.32%. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the prior year, the business earned $1.97 EPS. The business's revenue was up 7.6% compared to the same quarter last year. On average, analysts expect that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 16th will be given a $0.1086 dividend. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.41%. This is a boost 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 7.47%.

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.