CGI Inc. (NYSE:GIB) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd cut its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 58.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 558 shares of the technology company’s stock after selling 787 shares during the period. Gulf International Bank UK Ltd’s holdings in CGI were worth $64,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its position in shares of CGI by 288.2% during 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 last quarter. CWM LLC boosted its position in shares of CGI by 14.8% in the 3rd quarter. CWM LLC now owns 1,365 shares of the technology company’s stock valued at $157,000 after purchasing an additional 176 shares during the period. EverSource Wealth Advisors LLC increased 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 worth $205,000 after purchasing an additional 173 shares in the last quarter. Werba Rubin Papier Wealth Management acquired a new stake in CGI during the 3rd quarter worth about $208,000. Finally, Tidal Investments LLC purchased a new stake in CGI during the first quarter valued at about $226,000. 66.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and boosted their price target for the company from $155.00 to $178.00 in a report on Tuesday, October 15th. Sanford C. Bernstein raised shares of CGI to a “strong-buy” rating in a research note on Thursday, August 1st. Cibc World Mkts raised CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Jefferies Financial Group upped their price target on CGI from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, StockNews.com lowered CGI from a “hold” rating to a “sell” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $137.00.

CGI Price Performance

Shares of NYSE:GIB opened at $111.15 on Friday. The business has a fifty day simple moving average of $113.97 and a 200 day simple moving average of $107.65. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22. CGI Inc. has a 1 year low of $96.92 and a 1 year high of $118.89. The firm has a market cap of $25.33 billion, a price-to-earnings ratio of 20.66, a P/E/G ratio of 2.39 and a beta of 0.96.

CGI Announces Dividend

The company also recently declared a — dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be issued 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 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.