BNP Paribas Financial Markets Invests $1.73 Million in CGI Inc. (NYSE:GIB)

BNP Paribas Financial Markets acquired a new position in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 15,865 shares of the technology company's stock, valued at approximately $1,734,000.

Several other hedge funds have also made changes to their positions in the business. Sierra Ocean LLC purchased a new stake in shares of CGI during the fourth quarter worth about $62,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of CGI during the fourth quarter worth about $83,000. Hoey Investments Inc. purchased a new stake in shares of CGI during the fourth quarter worth about $99,000. Blue Trust Inc. increased its position in shares of CGI by 47.6% during the fourth quarter. Blue Trust Inc. now owns 1,163 shares of the technology company's stock worth $134,000 after acquiring an additional 375 shares during the last quarter. Finally, GeoWealth Management LLC increased its position in shares of CGI by 80.4% during the fourth quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company's stock worth $142,000 after acquiring an additional 579 shares during the last quarter. Institutional investors and hedge funds own 66.68% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GIB shares. UBS Group lifted their target price on CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Jefferies Financial Group dropped their target price on CGI from $140.00 to $135.00 and set a "buy" rating on the stock in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $192.00 target price on shares of CGI in a research 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $156.75.

CGI Stock Up 0.1%

NYSE:GIB traded up $0.16 during mid-day trading on Tuesday, reaching $108.24. The stock had a trading volume of 176,961 shares, compared to its average volume of 201,317. The company has a market capitalization of $24.54 billion, a price-to-earnings ratio of 19.57, a price-to-earnings-growth ratio of 2.58 and a beta of 0.78. CGI Inc. has a 1-year low of $92.85 and a 1-year high of $122.79. The stock's 50 day simple moving average is $103.09 and its two-hundred day simple moving average is $108.70. 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 (NYSE:GIB - Get Free Report) TSE: GIB.A last posted 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). The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $4.05 billion. CGI had a return on equity of 19.32% and a net margin of 11.72%. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the business posted $1.97 earnings per share. Equities analysts anticipate that CGI Inc. will post 5.79 EPS for the current year.

CGI Increases Dividend

The business 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. The ex-dividend date is Friday, May 16th. This is a positive change from CGI's previous quarterly dividend of $0.10. This represents a $0.43 annualized dividend and a dividend yield of 0.40%. CGI's dividend payout ratio is 7.47%.

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.