Cassaday & Co Wealth Management LLC Buys Shares of 7,165 CGI Inc. (NYSE:GIB)

Cassaday & Co Wealth Management LLC acquired a new stake in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 7,165 shares of the technology company's stock, valued at approximately $825,000.

Other large investors also recently added to or reduced their stakes in the company. Fiera Capital Corp lifted its stake in shares of CGI by 1.9% in the 2nd quarter. Fiera Capital Corp now owns 4,269,775 shares of the technology company's stock valued at $426,353,000 after purchasing an additional 79,303 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of CGI by 8.7% during the first quarter. Canada Pension Plan Investment Board now owns 692,449 shares of the technology company's stock worth $76,467,000 after acquiring an additional 55,499 shares during the last quarter. GHP Investment Advisors Inc. grew its position in shares of CGI by 14.4% during the second quarter. GHP Investment Advisors Inc. now owns 41,348 shares of the technology company's stock valued at $4,127,000 after purchasing an additional 5,213 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in CGI in the 3rd quarter worth approximately $4,539,000. Finally, Promethos Capital LLC raised its stake in CGI by 24.0% during the second quarter. Promethos Capital LLC now owns 84,444 shares of the technology company's stock valued at $8,424,000 after purchasing an additional 16,317 shares in the last quarter. Hedge funds and other institutional investors own 66.68% of the company's stock.

CGI Stock Up 2.0 %

GIB traded up $2.18 during trading on Monday, hitting $109.57. The company had a trading volume of 195,223 shares, compared to its average volume of 150,272. The company has a market cap of $24.97 billion, a PE ratio of 19.96, a P/E/G ratio of 2.27 and a beta of 0.96. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.02. CGI Inc. has a 1-year low of $96.92 and a 1-year high of $118.89. The business has a 50-day moving average of $113.74 and a 200-day moving average of $107.98.

CGI Dividend Announcement

The company also recently announced a -- dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be given a $0.111 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a dividend yield of 0.4%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GIB shares. 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 report on Tuesday, October 15th. Cibc World Mkts raised shares of CGI from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 15th. StockNews.com raised shares of CGI from a "sell" rating to a "hold" rating in a research note on Friday. Finally, Sanford C. Bernstein upgraded shares of CGI to a "strong-buy" rating in a research note on Thursday, August 1st. 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, the company currently has a consensus rating of "Buy" and a consensus price target 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.