JPMorgan Chase & Co. Has $101.47 Million Stake in CGI Inc. (NYSE:GIB)

JPMorgan Chase & Co. reduced its position in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 19.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 882,630 shares of the technology company's stock after selling 206,758 shares during the period. JPMorgan Chase & Co. owned about 0.39% of CGI worth $101,467,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in CGI during the 3rd quarter worth approximately $28,000. Blue Trust Inc. lifted its position in shares of CGI by 288.2% in the third quarter. Blue Trust Inc. now owns 788 shares of the technology company's stock worth $91,000 after purchasing an additional 585 shares in the last quarter. CWM LLC boosted its holdings in CGI by 14.8% during the third quarter. CWM LLC now owns 1,365 shares of the technology company's stock worth $157,000 after purchasing an additional 176 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in CGI by 9.2% in the second quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company's stock valued at $205,000 after purchasing an additional 173 shares in the last quarter. Finally, Werba Rubin Papier Wealth Management acquired a new stake in CGI in the 3rd quarter valued at $208,000. 66.68% of the stock is currently owned by institutional investors.

CGI Stock Performance

NYSE GIB traded up $0.58 during trading on Friday, reaching $109.76. 107,957 shares of the company's stock were exchanged, compared to its average volume of 119,129. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.02. The business has a 50 day moving average price of $111.34 and a 200-day moving average price of $110.01. The stock has a market capitalization of $25.01 billion, a P/E ratio of 20.40, a PEG ratio of 2.60 and a beta of 0.95. CGI Inc. has a fifty-two week low of $96.92 and a fifty-two week high of $118.89.

CGI Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently commented on GIB shares. Cibc World Mkts upgraded shares of CGI from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 15th. StockNews.com raised CGI from a "sell" rating to a "hold" rating in a research report on Friday, November 15th. Finally, CIBC raised 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 report on Tuesday, October 15th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently 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.