BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Grows Stock Holdings in CGI Inc. (NYSE:GIB)

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

Several other hedge funds have also added to or reduced their stakes in the business. Caisse DE Depot ET Placement DU Quebec raised its holdings in 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 worth $1,876,550,000 after purchasing an additional 230,000 shares in the last quarter. Fiera Capital Corp raised its stake in CGI by 2.7% in the third quarter. Fiera Capital Corp now owns 4,384,639 shares of the technology company's stock worth $505,173,000 after buying an additional 114,864 shares in the last quarter. Bank of Montreal Can lifted its holdings in CGI by 3.3% in the third quarter. Bank of Montreal Can now owns 3,275,421 shares of the technology company's stock worth $373,887,000 after buying an additional 104,300 shares during the period. TD Asset Management Inc boosted its position in CGI by 2.0% during the 2nd quarter. TD Asset Management Inc now owns 2,203,320 shares of the technology company's stock valued at $219,873,000 after acquiring an additional 43,355 shares in the last quarter. Finally, Cibc World Market Inc. grew its stake in CGI by 6.2% in the second quarter. Cibc World Market Inc. now owns 1,803,131 shares of the technology company's stock worth $180,025,000 after purchasing an additional 105,817 shares during the period. 66.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GIB shares. CIBC upgraded CGI from a "neutral" rating to an "outperformer" rating and upped their price target for the stock from $155.00 to $178.00 in a research note on Tuesday, October 15th. StockNews.com upgraded shares of CGI from a "sell" rating to a "hold" rating in a research report on Friday, November 15th. Finally, Cibc World Mkts upgraded shares of CGI from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 15th. Two research 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 company's stock. Based on data from MarketBeat.com, CGI presently has an average rating of "Buy" and an average target price of $137.00.

CGI Price Performance

CGI stock traded up $0.12 during mid-day trading on Monday, hitting $112.54. The stock had a trading volume of 152,045 shares, compared to its average volume of 150,610. The firm has a market capitalization of $25.65 billion, a P/E ratio of 20.92, a P/E/G ratio of 2.54 and a beta of 0.96. 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's 50 day moving average is $113.15 and its 200 day moving average is $108.64. CGI Inc. has a one year low of $96.92 and a one year high of $118.89.

CGI Dividend Announcement

The business also recently declared 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 payout ratio is currently 8.18%.

CGI 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.