CGI Inc. (NYSE:GIB) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 8.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 998,470 shares of the technology company’s stock after acquiring an additional 79,362 shares during the quarter. Geode Capital Management LLC owned 0.44% of CGI worth $115,844,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in GIB. Blue Trust Inc. grew its holdings in shares of CGI by 288.2% during the 3rd quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock worth $91,000 after purchasing an additional 585 shares during the period. CWM LLC grew its stake in CGI by 14.8% during the third quarter. CWM LLC now owns 1,365 shares of the technology company’s stock worth $157,000 after buying an additional 176 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of CGI by 9.2% in the second quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock worth $205,000 after acquiring an additional 173 shares in the last quarter. Werba Rubin Papier Wealth Management purchased a new position in shares of CGI in the 3rd quarter valued at $208,000. Finally, Thrivent Financial for Lutherans acquired a new position in shares of CGI during the 3rd quarter valued at $209,000. Hedge funds and other institutional investors own 66.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. StockNews.com raised CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. CIBC raised CGI from a “neutral” rating to an “outperformer” rating and boosted their price target for the stock from $155.00 to $178.00 in a research report on Tuesday, October 15th. Finally, Cibc World Mkts raised shares of CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $137.00.

CGI Trading Down 0.4 %

NYSE:GIB opened at $109.74 on Wednesday. The stock has a market cap of $25.01 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 2.60 and a beta of 0.94. CGI Inc. has a one year low of $96.92 and a one year high of $118.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.02 and a current ratio of 1.36. The business’s 50-day simple moving average is $112.68 and its 200 day simple moving average is $109.39.

CGI Dividend Announcement

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

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.