CGI Inc. (NYSE:GIB) Shares Bought by Citigroup Inc.

Citigroup Inc. lifted its stake in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 2.0% in the third quarter, Holdings Channel reports. The institutional investor owned 100,915 shares of the technology company’s stock after buying an additional 1,970 shares during the quarter. Citigroup Inc.’s holdings in CGI were worth $11,625,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Tidal Investments LLC acquired a new position in CGI during the 1st quarter worth $226,000. First Affirmative Financial Network grew its stake in CGI by 4.0% in the second quarter. First Affirmative Financial Network now owns 2,841 shares of the technology company’s stock worth $284,000 after purchasing an additional 109 shares in the last quarter. Cigna Investments Inc. New increased its holdings in CGI by 3.8% in the second quarter. Cigna Investments Inc. New now owns 3,948 shares of the technology company’s stock valued at $394,000 after buying an additional 146 shares during the last quarter. Cidel Asset Management Inc. raised its stake in CGI by 0.8% during the second quarter. Cidel Asset Management Inc. now owns 254,738 shares of the technology company’s stock valued at $25,421,000 after buying an additional 2,053 shares in the last quarter. Finally, Walter Public Investments Inc. lifted its holdings in CGI by 4.0% during the 2nd quarter. Walter Public Investments Inc. now owns 206,214 shares of the technology company’s stock worth $20,575,000 after buying an additional 8,004 shares during the last quarter. Institutional investors own 66.68% of the company’s stock.

CGI Stock Performance

Shares of GIB opened at $112.59 on Friday. The firm has a fifty day moving average of $113.18 and a 200-day moving average of $108.44. The company has a market cap of $25.66 billion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 2.55 and a beta of 0.96. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.02 and a current ratio of 1.36. CGI Inc. has a 1 year low of $96.92 and a 1 year high of $118.89.

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 given a $0.111 dividend. This represents a yield of 0.4%. The ex-dividend date is Wednesday, November 20th. CGI’s dividend payout ratio (DPR) is 8.18%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Sanford C. Bernstein upgraded CGI to a “strong-buy” rating in a report on Thursday, August 1st. CIBC upgraded shares of 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 research report on Tuesday, October 15th. StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Cibc World Mkts raised shares of 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 assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, CGI has an average 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.