Townsquare Capital LLC Invests $281,000 in CGI Inc. (NYSE:GIB)

Townsquare Capital LLC bought a new position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,443 shares of the technology company’s stock, valued at approximately $281,000.

A number of other large investors have also modified their holdings of the business. Fiera Capital Corp raised its stake in shares of CGI by 2.7% during the 3rd quarter. Fiera Capital Corp now owns 4,384,639 shares of the technology company’s stock worth $505,173,000 after buying an additional 114,864 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of CGI by 3.3% in the 3rd quarter. Bank of Montreal Can now owns 3,275,421 shares of the technology company’s stock worth $373,887,000 after acquiring an additional 104,300 shares during the period. TD Asset Management Inc grew its holdings in shares of CGI by 2.0% in the 2nd quarter. TD Asset Management Inc now owns 2,203,320 shares of the technology company’s stock worth $219,873,000 after acquiring an additional 43,355 shares during the period. Cibc World Market Inc. grew its holdings in shares of CGI by 6.2% in the 2nd quarter. Cibc World Market Inc. now owns 1,803,131 shares of the technology company’s stock worth $180,025,000 after acquiring an additional 105,817 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of CGI by 68.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock worth $157,485,000 after acquiring an additional 555,017 shares during the period. 66.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GIB shares. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Finally, CIBC upgraded CGI from a “neutral” rating to an “outperformer” rating and upped their price target for the stock from $155.00 to $178.00 in a report on Tuesday, October 15th. Two equities 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. Based on data from MarketBeat, CGI presently has an average rating of “Buy” and a consensus target price of $137.00.

CGI Price Performance

Shares of NYSE:GIB opened at $112.82 on Friday. The business’s fifty day moving average price is $113.03 and its two-hundred day moving average price is $108.75. The stock has a market cap of $25.71 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 2.54 and a beta of 0.94. 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 one year low of $96.92 and a one year high of $118.89.

CGI Announces Dividend

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

CGI Company 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.