CGI Inc. (NYSE:GIB) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. trimmed its position in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 93.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,129 shares of the technology company's stock after selling 310,902 shares during the period. Alliancebernstein L.P.'s holdings in CGI were worth $2,528,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of GIB. Geode Capital Management LLC boosted its stake in CGI by 8.6% in the third quarter. Geode Capital Management LLC now owns 998,470 shares of the technology company's stock valued at $115,844,000 after acquiring an additional 79,362 shares in the last quarter. Barclays PLC grew its stake in shares of CGI by 182.6% in the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company's stock valued at $54,808,000 after purchasing an additional 308,040 shares during the last quarter. Blue Trust Inc. increased its stake in CGI by 47.6% in the 4th quarter. Blue Trust Inc. now owns 1,163 shares of the technology company's stock valued at $134,000 after buying an additional 375 shares during the period. Jane Street Group LLC raised its holdings in CGI by 19.2% during the third quarter. Jane Street Group LLC now owns 39,784 shares of the technology company's stock worth $4,574,000 after purchasing an additional 6,403 shares in the last quarter. Finally, KFA Private Wealth Group LLC lifted its holdings in shares of CGI by 120.9% in the 4th quarter. KFA Private Wealth Group LLC now owns 12,350 shares of the technology company's stock valued at $1,350,000 after buying an additional 6,760 shares during the period. 66.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GIB has been the topic of a number of research analyst reports. UBS Group boosted their price objective on shares of CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $192.00 target price on shares of CGI in a research note on Wednesday, March 26th. Finally, Jefferies Financial Group decreased their price target on CGI from $140.00 to $135.00 and set a "buy" rating on the stock in a research note on Tuesday, January 21st. Two equities research 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 MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $156.75.

CGI Stock Up 1.1 %

NYSE:GIB traded up $1.16 during mid-day trading on Friday, reaching $105.32. The stock had a trading volume of 309,297 shares, compared to its average volume of 197,365. 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 company has a market capitalization of $23.88 billion, a price-to-earnings ratio of 19.04, a price-to-earnings-growth ratio of 2.58 and a beta of 0.85. 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 $105.20 and its two-hundred day simple moving average is $109.97.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last issued 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%. Equities analysts anticipate that CGI Inc. will post 5.79 EPS for the current year.

CGI Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend was Friday, February 14th. CGI's payout ratio is 7.41%.

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.