Freedom Investment Management Inc. Sells 757 Shares of CGI Inc. (NYSE:GIB)

Freedom Investment Management Inc. lessened its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 22.7% during the 3rd quarter, Holdings Channel reports. The firm owned 2,584 shares of the technology company’s stock after selling 757 shares during the period. Freedom Investment Management Inc.’s holdings in CGI were worth $297,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. boosted its stake in shares of CGI by 288.2% in the 3rd quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock valued at $91,000 after purchasing an additional 585 shares during the last quarter. CWM LLC boosted its stake 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 last quarter. EverSource Wealth Advisors LLC raised its position in shares of 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 acquired a new stake in shares of CGI in the 3rd quarter valued at approximately $208,000. Finally, Thrivent Financial for Lutherans acquired a new stake in shares of CGI in the 3rd quarter valued at approximately $209,000. Institutional investors own 66.68% of the company’s stock.

CGI Stock Performance

Shares of GIB stock opened at $112.42 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.02 and a current ratio of 1.36. The company has a market capitalization of $25.62 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 2.54 and a beta of 0.96. The company’s 50 day moving average price is $113.17 and its two-hundred day moving average price is $108.58. CGI Inc. has a 52 week low of $96.92 and a 52 week high of $118.89.

CGI Dividend Announcement

The business also recently announced a — dividend, which will be paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $0.111 per share. The ex-dividend date is Wednesday, November 20th. This represents a yield of 0.4%. CGI’s dividend payout ratio (DPR) is currently 8.18%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GIB. CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and increased their price target for the company from $155.00 to $178.00 in a research report on Tuesday, October 15th. Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, StockNews.com upgraded shares of CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price 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.