PCJ Investment Counsel Ltd. Sells 5,080 Shares of CGI Inc. (NYSE:GIB)

PCJ Investment Counsel Ltd. reduced its position in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 32.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,630 shares of the technology company's stock after selling 5,080 shares during the quarter. PCJ Investment Counsel Ltd.'s holdings in CGI were worth $1,223,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GIB. Fiera Capital Corp boosted its position in CGI by 1.9% during the second quarter. Fiera Capital Corp now owns 4,269,775 shares of the technology company's stock worth $426,353,000 after purchasing an additional 79,303 shares during the period. Canada Pension Plan Investment Board boosted its holdings in CGI by 8.7% in the first quarter. Canada Pension Plan Investment Board now owns 692,449 shares of the technology company's stock valued at $76,467,000 after acquiring an additional 55,499 shares in the last quarter. GHP Investment Advisors Inc. boosted its holdings in CGI by 14.4% in the second quarter. GHP Investment Advisors Inc. now owns 41,348 shares of the technology company's stock valued at $4,127,000 after acquiring an additional 5,213 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of CGI during the 3rd quarter valued at $4,539,000. Finally, Promethos Capital LLC raised its position in shares of CGI by 24.0% in the 2nd quarter. Promethos Capital LLC now owns 84,444 shares of the technology company's stock worth $8,424,000 after purchasing an additional 16,317 shares during the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Stock Down 0.5 %

GIB traded down $0.55 during trading on Wednesday, hitting $109.12. The company had a trading volume of 73,784 shares, compared to its average volume of 149,999. The firm's 50-day moving average price is $113.58 and its 200 day moving average price is $108.07. 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 one year low of $96.92 and a one year high of $118.89. The company has a market capitalization of $24.87 billion, a PE ratio of 20.39, a PEG ratio of 2.27 and a beta of 0.96.

CGI Announces Dividend

The business also recently declared a -- dividend, which will be paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th will be paid a $0.111 dividend. This represents a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, November 20th.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Cibc World Mkts raised shares of CGI from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 15th. StockNews.com raised CGI from a "sell" rating to a "hold" rating in a research report on Friday, November 15th. Sanford C. Bernstein upgraded CGI to a "strong-buy" rating in a research note on Thursday, August 1st. Finally, CIBC raised CGI from a "neutral" rating to an "outperformer" rating and lifted their price target for the stock from $155.00 to $178.00 in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company 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.