Public Employees Retirement System of Ohio Takes $5.08 Million Position in CGI Inc. (NYSE:GIB)

Public Employees Retirement System of Ohio acquired a new stake in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 44,152 shares of the technology company's stock, valued at approximately $5,081,000.

A number of other large investors have also added to or reduced their stakes in GIB. Crestwood Advisors Group LLC increased its holdings in shares of CGI by 2.4% during the third quarter. Crestwood Advisors Group LLC now owns 4,222 shares of the technology company's stock valued at $485,000 after acquiring an additional 97 shares in the last quarter. West Family Investments Inc. grew its position in CGI by 5.5% during the 3rd quarter. West Family Investments Inc. now owns 2,323 shares of the technology company's stock valued at $267,000 after purchasing an additional 121 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in CGI by 9.2% during the 2nd 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. CWM LLC raised its holdings in CGI by 14.8% in the third quarter. CWM LLC now owns 1,365 shares of the technology company's stock worth $157,000 after buying an additional 176 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of CGI by 0.6% during the third quarter. Sequoia Financial Advisors LLC now owns 31,098 shares of the technology company's stock valued at $3,575,000 after buying an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 66.68% of the company's stock.

Wall Street Analysts Forecast Growth

GIB has been the topic of several analyst reports. CIBC raised CGI from a "neutral" rating to an "outperformer" rating and upped their price objective for the company from $155.00 to $178.00 in a research report on Tuesday, October 15th. StockNews.com raised CGI from a "sell" rating to a "hold" rating in a report on Friday, November 15th. Finally, Cibc World Mkts upgraded CGI from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 15th. Two 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $137.00.

CGI Stock Performance

GIB traded up $0.30 during mid-day trading on Friday, reaching $112.61. 213,384 shares of the company traded hands, compared to its average volume of 150,856. The stock has a market capitalization of $25.67 billion, a P/E ratio of 20.93, a P/E/G ratio of 2.60 and a beta of 0.94. CGI Inc. has a 52-week low of $96.92 and a 52-week high of $118.89. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.29. The company's fifty day moving average price is $112.84 and its 200-day moving average price is $109.23.

CGI Dividend Announcement

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

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.