CGI Inc. (NYSE:GIB) Shares Sold by Fmr LLC

FMR LLC trimmed its holdings in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 92.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 190,935 shares of the technology company's stock after selling 2,290,539 shares during the quarter. FMR LLC owned 0.08% of CGI worth $21,969,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Fiera Capital Corp boosted its holdings in CGI by 1.9% in the second 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 last quarter. Charles Schwab Investment Management Inc. boosted its holdings in CGI by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 560,159 shares of the technology company's stock valued at $64,518,000 after purchasing an additional 21,427 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in CGI in the third quarter valued at $825,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in CGI by 68.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company's stock valued at $157,485,000 after purchasing an additional 555,017 shares during the last quarter. Finally, GHP Investment Advisors Inc. raised its position in shares of CGI by 14.4% in the second quarter. GHP Investment Advisors Inc. now owns 41,348 shares of the technology company's stock worth $4,127,000 after acquiring an additional 5,213 shares during the period. 66.68% of the stock is owned by hedge funds and other institutional investors.

CGI Price Performance

Shares of GIB traded up $0.43 during mid-day trading on Tuesday, hitting $114.17. 225,677 shares of the company were exchanged, compared to its average volume of 150,174. CGI Inc. has a 1-year low of $96.92 and a 1-year high of $118.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.02 and a current ratio of 1.36. The company has a 50 day moving average of $112.98 and a 200-day moving average of $108.93. The stock has a market cap of $26.02 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 2.55 and a beta of 0.94.

CGI Announces Dividend

The business also recently declared a -- dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be given a dividend of $0.111 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a dividend yield of 0.4%. CGI's dividend payout ratio (DPR) is presently 8.18%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GIB. StockNews.com upgraded shares of CGI from a "sell" rating to a "hold" rating in a research report on Friday, November 15th. CIBC upgraded shares of CGI from a "neutral" rating to an "outperformer" rating and upped their price objective for the stock from $155.00 to $178.00 in a research report on Tuesday, October 15th. Finally, Cibc World Mkts upgraded shares of CGI from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, CGI presently has a consensus rating of "Buy" and a consensus price target of $137.00.

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.