Massachusetts Financial Services Co. MA Sells 1,134,057 Shares of CGI Inc. (NYSE:GIB)

Massachusetts Financial Services Co. MA reduced its stake in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 36.2% during the third quarter, according to its most recent filing with the SEC. The fund owned 1,998,420 shares of the technology company's stock after selling 1,134,057 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.88% of CGI worth $229,738,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its stake in shares of CGI by 288.2% in the third quarter. Blue Trust Inc. now owns 788 shares of the technology company's stock valued at $91,000 after buying an additional 585 shares during the period. CWM LLC increased its holdings in CGI by 14.8% in the 3rd quarter. CWM LLC now owns 1,365 shares of the technology company's stock worth $157,000 after acquiring an additional 176 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in CGI by 9.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company's stock valued at $205,000 after acquiring an additional 173 shares during the period. Werba Rubin Papier Wealth Management bought a new position in CGI during the third quarter worth about $208,000. Finally, Thrivent Financial for Lutherans purchased a new position in shares of CGI in the third quarter worth about $209,000. Institutional investors own 66.68% of the company's stock.

CGI Price Performance

Shares of GIB stock traded down $0.37 on Friday, reaching $111.60. The company's stock had a trading volume of 121,332 shares, compared to its average volume of 173,059. The company has a quick ratio of 1.02, a current ratio of 1.36 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 company has a market capitalization of $25.43 billion, a P/E ratio of 20.75, a PEG ratio of 2.53 and a beta of 0.96. The stock's 50 day simple moving average is $113.34 and its 200-day simple moving average is $108.17.

CGI Announces Dividend

The firm 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. 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%.

Analyst Upgrades and Downgrades

Several research firms 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 raised CGI from a "neutral" rating to an "outperformer" rating and raised their price target for the stock from $155.00 to $178.00 in a report on Tuesday, October 15th. Cibc World Mkts upgraded CGI from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 15th. Finally, Sanford C. Bernstein upgraded CGI to a "strong-buy" rating in a research note on Thursday, August 1st. Two equities research 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. According to data from MarketBeat.com, CGI currently has a consensus rating of "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.