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

Geode Capital Management LLC lifted its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 8.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 998,470 shares of the technology company’s stock after buying an additional 79,362 shares during the period. Geode Capital Management LLC’s holdings in CGI were worth $115,844,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. raised its position in CGI by 288.2% in the third quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock worth $91,000 after acquiring an additional 585 shares in the last quarter. CWM LLC raised its holdings in shares of CGI by 14.8% in the 3rd quarter. CWM LLC now owns 1,365 shares of the technology company’s stock worth $157,000 after purchasing an additional 176 shares in the last quarter. 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 in the last quarter. Werba Rubin Papier Wealth Management acquired a new stake in CGI during the third quarter valued at approximately $208,000. Finally, Thrivent Financial for Lutherans bought a new stake in CGI during the third quarter worth approximately $209,000. Institutional investors and hedge funds own 66.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. StockNews.com upgraded 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 upped their target price for the company from $155.00 to $178.00 in a report on Tuesday, October 15th. Finally, Cibc World Mkts raised CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $137.00.

CGI Price Performance

Shares of NYSE:GIB opened at $109.74 on Wednesday. The company’s fifty day moving average is $112.68 and its two-hundred day moving average is $109.39. The company has a market cap of $25.01 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 2.60 and a beta of 0.94. CGI Inc. has a 12-month low of $96.92 and a 12-month high of $118.89. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.29.

CGI Announces Dividend

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

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.