BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 36,781 Shares of CGI Inc. (NYSE:GIB)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 127.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,546 shares of the technology company’s stock after acquiring an additional 36,781 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in CGI were worth $7,541,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of GIB. Blue Trust Inc. boosted its stake in shares of CGI by 288.2% during the third quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock valued at $91,000 after purchasing an additional 585 shares during the period. CWM LLC boosted its position in 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 buying an additional 176 shares during the period. EverSource Wealth Advisors LLC grew 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 worth $205,000 after acquiring an additional 173 shares during the last quarter. Werba Rubin Papier Wealth Management purchased a new position in shares of CGI in the third quarter valued at about $208,000. Finally, Thrivent Financial for Lutherans bought a new position in shares of CGI during the third quarter valued at about $209,000. 66.68% of the stock is currently owned by institutional investors.

CGI Stock Down 0.2 %

Shares of NYSE:GIB opened at $112.42 on Monday. The firm has a market capitalization of $25.62 billion, a P/E ratio of 20.90, a P/E/G ratio of 2.54 and a beta of 0.96. 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 stock has a 50 day moving average price of $113.17 and a 200-day moving average price of $108.58. CGI Inc. has a 52-week low of $96.92 and a 52-week high of $118.89.

CGI Announces Dividend

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

Analysts Set New Price Targets

GIB has been the topic of several recent analyst reports. CIBC raised 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 note on Tuesday, October 15th. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, StockNews.com upgraded shares of CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, CGI currently has an average rating of “Buy” and a consensus target price of $137.00.

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.