CGI Inc. (NYSE:GIB) Shares Bought by Barclays PLC

Barclays PLC grew its stake in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 182.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 476,758 shares of the technology company's stock after purchasing an additional 308,040 shares during the quarter. Barclays PLC owned approximately 0.21% of CGI worth $54,808,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. National Bank of Canada FI increased its position in CGI by 23.6% during the third quarter. National Bank of Canada FI now owns 4,513,733 shares of the technology company's stock worth $519,072,000 after buying an additional 861,771 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of CGI by 68.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company's stock worth $157,485,000 after acquiring an additional 555,017 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of CGI by 1.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,290,487 shares of the technology company's stock valued at $1,876,550,000 after acquiring an additional 230,000 shares during the period. Fiera Capital Corp raised its position in CGI by 2.7% in the 3rd quarter. Fiera Capital Corp now owns 4,384,639 shares of the technology company's stock valued at $505,173,000 after purchasing an additional 114,864 shares during the last quarter. Finally, Andra AP fonden acquired a new stake in CGI during the 2nd quarter worth $11,418,000. Hedge funds and other institutional investors own 66.68% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on GIB. StockNews.com upgraded shares of CGI from a "sell" rating to a "hold" rating in a research note on Friday, November 15th. Cibc World Mkts raised CGI from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 15th. Finally, CIBC raised CGI from a "neutral" rating to an "outperformer" rating and increased their price objective for the stock from $155.00 to $178.00 in a research report on Tuesday, October 15th. Two research 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's stock. According to MarketBeat, CGI presently has an average rating of "Buy" and a consensus price target of $137.00.

CGI Stock Performance

Shares of CGI stock traded up $0.30 on Friday, reaching $112.61. 184,642 shares of the stock were exchanged, compared to its average volume of 150,856. 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 capitalization of $25.66 billion, a PE ratio of 20.88, a PEG ratio of 2.60 and a beta of 0.94. CGI Inc. has a 1-year low of $96.92 and a 1-year high of $118.89. The business has a fifty day moving average price of $112.89 and a two-hundred day moving average price of $109.06.

CGI Announces Dividend

The firm also recently declared a -- dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be issued a $0.111 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a dividend yield of 0.4%. CGI's dividend payout ratio is currently 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.