Franklin Resources Inc. Has $15.57 Million Position in CGI Inc. (NYSE:GIB)

Franklin Resources Inc. cut its position in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 4.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 132,712 shares of the technology company's stock after selling 5,487 shares during the period. Franklin Resources Inc. owned 0.06% of CGI worth $15,569,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of GIB. National Bank of Canada FI raised its stake in CGI by 23.6% in the third quarter. National Bank of Canada FI now owns 4,513,733 shares of the technology company's stock valued at $519,072,000 after buying an additional 861,771 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in CGI by 68.2% during the 3rd 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. Barclays PLC boosted its position in CGI by 182.6% during the third quarter. Barclays PLC now owns 476,758 shares of the technology company's stock worth $54,808,000 after purchasing an additional 308,040 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of CGI by 1.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,290,487 shares of the technology company's stock valued at $1,876,550,000 after purchasing an additional 230,000 shares during the last quarter. Finally, Fiera Capital Corp raised its position in shares of CGI by 2.7% in the third quarter. Fiera Capital Corp now owns 4,384,639 shares of the technology company's stock valued at $505,173,000 after purchasing an additional 114,864 shares during the period. 66.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Stock Performance

NYSE:GIB traded up $0.42 during mid-day trading on Friday, reaching $109.44. 182,580 shares of the company's stock were exchanged, compared to its average volume of 152,013. 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 firm has a market capitalization of $24.94 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 2.60 and a beta of 0.94. CGI Inc. has a one year low of $96.92 and a one year high of $118.89. The business's fifty day simple moving average is $112.28 and its two-hundred day simple moving average is $109.52.

CGI Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently commented on GIB. StockNews.com raised shares of CGI from a "sell" rating to a "hold" rating in a report on Friday, November 15th. CIBC upgraded CGI from a "neutral" rating to an "outperformer" rating and boosted their price objective for the stock from $155.00 to $178.00 in a report on Tuesday, October 15th. Finally, Cibc World Mkts raised CGI from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price 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.