Pitcairn Co. Purchases 622 Shares of CGI Inc. (NYSE:GIB)

Pitcairn Co. increased its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 6.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,594 shares of the technology company’s stock after purchasing an additional 622 shares during the quarter. Pitcairn Co.’s holdings in CGI were worth $1,103,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

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

CGI Trading Down 0.3 %

Shares of CGI stock opened at $111.60 on Monday. The company’s 50-day moving average price is $113.34 and its 200-day moving average price is $108.24. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29. CGI Inc. has a 12-month low of $96.92 and a 12-month high of $118.89. The company has a market cap of $25.43 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 2.53 and a beta of 0.96.

CGI Dividend Announcement

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

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.