CGI Inc. (NYSE:GIB) Position Lowered by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. trimmed its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 15.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 286,836 shares of the technology company’s stock after selling 50,756 shares during the period. CGI accounts for about 0.9% of Northwest & Ethical Investments L.P.’s investment portfolio, making the stock its 20th biggest holding. Northwest & Ethical Investments L.P.’s holdings in CGI were worth $33,008,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of CGI by 68.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock worth $157,485,000 after acquiring an additional 555,017 shares in the last quarter. Fiera Capital Corp increased its stake in CGI by 2.7% during the third quarter. Fiera Capital Corp now owns 4,384,639 shares of the technology company’s stock valued at $505,173,000 after purchasing an additional 114,864 shares during the last quarter. Andra AP fonden acquired a new stake in shares of CGI during the second quarter worth $11,418,000. Dimensional Fund Advisors LP lifted its position in shares of CGI by 22.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 625,106 shares of the technology company’s stock worth $62,394,000 after buying an additional 113,903 shares during the last quarter. Finally, Intact Investment Management Inc. acquired a new position in shares of CGI in the 2nd quarter valued at about $11,222,000. 66.68% of the stock is owned by institutional investors.

CGI Price Performance

Shares of CGI stock traded up $0.87 during trading on Thursday, hitting $112.59. The stock had a trading volume of 119,317 shares, compared to its average volume of 150,971. The business has a fifty day moving average of $113.20 and a two-hundred day moving average of $108.41. CGI Inc. has a fifty-two week low of $96.92 and a fifty-two week high of $118.89. The firm has a market cap of $25.66 billion, a P/E ratio of 20.93, a PEG ratio of 2.55 and a beta of 0.96. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.02.

CGI Announces Dividend

The firm also recently disclosed a — dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.111 per share. The ex-dividend date is Wednesday, November 20th. This represents a dividend yield of 0.4%. CGI’s dividend payout ratio (DPR) is 8.18%.

Analyst Ratings Changes

A number of equities analysts have commented on GIB shares. CIBC upgraded CGI from a “neutral” rating to an “outperformer” rating and lifted their target price for the company from $155.00 to $178.00 in a research note on Tuesday, October 15th. Sanford C. Bernstein raised CGI to a “strong-buy” rating in a report on Thursday, August 1st. Cibc World Mkts raised CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, StockNews.com raised CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $137.00.

CGI 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.