Ontario Teachers Pension Plan Board Sells 1,248 Shares of CGI Inc. (NYSE:GIB)

Ontario Teachers Pension Plan Board lessened its stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 4.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,765 shares of the technology company’s stock after selling 1,248 shares during the period. Ontario Teachers Pension Plan Board’s holdings in CGI were worth $3,194,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Crestwood Advisors Group LLC lifted its position in shares of CGI by 2.4% in the 3rd quarter. Crestwood Advisors Group LLC now owns 4,222 shares of the technology company’s stock worth $485,000 after acquiring an additional 97 shares during the period. First Affirmative Financial Network raised its stake in shares of CGI by 4.0% in the second quarter. First Affirmative Financial Network now owns 2,841 shares of the technology company’s stock valued at $284,000 after purchasing an additional 109 shares in the last quarter. West Family Investments Inc. lifted its position in CGI by 5.5% in the third quarter. West Family Investments Inc. now owns 2,323 shares of the technology company’s stock worth $267,000 after purchasing an additional 121 shares during the period. Cigna Investments Inc. New boosted its stake in CGI by 3.8% during the second quarter. Cigna Investments Inc. New now owns 3,948 shares of the technology company’s stock worth $394,000 after buying an additional 146 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in CGI by 9.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock valued at $205,000 after buying an additional 173 shares during the period. 66.68% of the stock is owned by institutional investors and hedge funds.

CGI Stock Performance

NYSE GIB opened at $109.70 on Wednesday. CGI Inc. has a 1-year low of $96.92 and a 1-year high of $118.89. The company has a 50 day moving average of $113.58 and a 200-day moving average of $108.07. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29. The firm has a market cap of $25.00 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 2.27 and a beta of 0.96.

CGI Dividend Announcement

The firm also recently disclosed a — dividend, which will be paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th will be given a $0.111 dividend. The ex-dividend date is Wednesday, November 20th. This represents a yield of 0.4%.

Wall Street Analysts Forecast Growth

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

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.