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

Geode Capital Management LLC lifted its stake in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 8.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 998,470 shares of the technology company's stock after acquiring an additional 79,362 shares during the period. Geode Capital Management LLC owned 0.44% of CGI worth $115,844,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of GIB. Blue Trust Inc. raised its holdings in shares of CGI by 288.2% during the 3rd quarter. Blue Trust Inc. now owns 788 shares of the technology company's stock worth $91,000 after acquiring an additional 585 shares during the period. CWM LLC raised its holdings in shares of CGI by 14.8% during the 3rd quarter. CWM LLC now owns 1,365 shares of the technology company's stock worth $157,000 after acquiring an additional 176 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of CGI by 9.2% during 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 period. Werba Rubin Papier Wealth Management purchased a new position in shares of CGI during the 3rd quarter worth $208,000. Finally, Thrivent Financial for Lutherans purchased a new position in shares of CGI during the 3rd quarter worth $209,000. Hedge funds and other institutional investors own 66.68% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on GIB. CIBC upgraded CGI from a "neutral" rating to an "outperformer" rating and lifted their price target for the stock from $155.00 to $178.00 in a report on Tuesday, October 15th. Cibc World Mkts upgraded shares of 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 issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $137.00.

CGI Trading Down 2.6 %

NYSE:GIB traded down $2.82 on Wednesday, reaching $107.00. 261,936 shares of the company's stock were exchanged, compared to its average volume of 151,697. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $24.39 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 2.60 and a beta of 0.94. The business has a fifty day moving average of $112.68 and a 200-day moving average of $109.39. CGI Inc. has a 52-week low of $96.92 and a 52-week high of $118.89.

CGI Dividend Announcement

The business also recently disclosed a -- dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.111 per share. This represents a dividend yield of 0.4%. The ex-dividend date is Wednesday, November 20th. CGI's dividend payout ratio is presently 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.