Crossmark Global Holdings Inc. Sells 13,820 Shares of CGI Inc. (NYSE:GIB)

Crossmark Global Holdings Inc. reduced its position in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 48.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,963 shares of the technology company's stock after selling 13,820 shares during the period. Crossmark Global Holdings Inc.'s holdings in CGI were worth $1,721,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GIB. BNP Paribas Financial Markets purchased a new position in shares of CGI in the 1st quarter worth $423,000. Mitsubishi UFJ Trust & Banking Corp grew its position in CGI by 3.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 141,968 shares of the technology company's stock worth $15,639,000 after acquiring an additional 5,100 shares in the last quarter. Intech Investment Management LLC bought a new stake in CGI during the first quarter worth approximately $5,529,000. Vanguard Group Inc. raised its position in CGI by 0.8% during the first quarter. Vanguard Group Inc. now owns 7,603,481 shares of the technology company's stock valued at $840,109,000 after purchasing an additional 64,037 shares during the period. Finally, Ontario Teachers Pension Plan Board lifted its stake in shares of CGI by 57.1% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 26,730 shares of the technology company's stock valued at $2,950,000 after purchasing an additional 9,719 shares during the last quarter. 66.68% of the stock is owned by institutional investors.

CGI Trading Down 4.5 %

Shares of NYSE GIB traded down $5.07 during mid-day trading on Thursday, reaching $107.06. The company had a trading volume of 456,752 shares, compared to its average volume of 149,942. CGI Inc. has a 52 week low of $96.92 and a 52 week high of $118.89. The business's 50-day moving average is $113.93 and its 200-day moving average is $107.84. The stock has a market cap of $24.40 billion, a price-to-earnings ratio of 20.85, a price-to-earnings-growth ratio of 2.37 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.

CGI Announces Dividend

The company also recently declared 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.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Cibc World Mkts raised CGI from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 15th. CIBC raised shares of CGI from a "neutral" rating to an "outperformer" rating and increased their target price for the company from $155.00 to $178.00 in a research note on Tuesday, October 15th. UBS Group began coverage on shares of CGI in a research note on Friday, July 19th. They set a "neutral" rating and a $112.00 price target for the company. StockNews.com lowered shares of CGI from a "hold" rating to a "sell" rating in a research report on Thursday, November 7th. Finally, Sanford C. Bernstein upgraded CGI to a "strong-buy" rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $137.00.

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.