CGI Inc. (NYSE:GIB) Shares Sold by Franklin Resources Inc.

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

Other institutional investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of CGI in the third quarter valued at about $28,000. Blue Trust Inc. increased its position in CGI by 288.2% in the 3rd quarter. Blue Trust Inc. now owns 788 shares of the technology company's stock valued at $91,000 after acquiring an additional 585 shares during the period. CWM LLC raised its stake in CGI by 14.8% during the 3rd quarter. CWM LLC now owns 1,365 shares of the technology company's stock valued at $157,000 after acquiring an additional 176 shares during the last quarter. Werba Rubin Papier Wealth Management acquired a new stake in CGI during the 3rd quarter worth approximately $208,000. Finally, Thrivent Financial for Lutherans purchased a new position in shares of CGI in the 3rd quarter valued at approximately $209,000. Institutional investors and hedge funds own 66.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GIB shares. StockNews.com raised CGI from a "sell" rating to a "hold" rating in a report on Friday, November 15th. Cibc World Mkts raised shares of CGI from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 15th. Finally, CIBC upgraded shares of CGI from a "neutral" rating to an "outperformer" rating and boosted their price target for the stock from $155.00 to $178.00 in a research note 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, CGI has an average rating of "Buy" and an average price target of $137.00.

CGI Price Performance

Shares of GIB traded up $0.42 during trading hours on Friday, reaching $109.44. The company had a trading volume of 182,580 shares, compared to its average volume of 152,013. 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 Inc. has a 12-month low of $96.92 and a 12-month high of $118.89. The firm has a 50 day simple moving average of $112.28 and a 200-day simple moving average of $109.45. The company has a market capitalization of $24.94 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 2.60 and a beta of 0.94.

CGI Announces Dividend

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