Empower Advisory Group LLC Has $949,000 Position in CGI Inc. (NYSE:GIB)

Empower Advisory Group LLC decreased its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 28.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,236 shares of the technology company’s stock after selling 3,334 shares during the quarter. Empower Advisory Group LLC’s holdings in CGI were worth $949,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of GIB. Crestwood Advisors Group LLC increased its stake in shares of CGI by 2.4% in the 3rd 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 during the last quarter. First Affirmative Financial Network increased 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 valued at $284,000 after purchasing an additional 109 shares in the last quarter. Cigna Investments Inc. New raised 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 worth $394,000 after purchasing an additional 146 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of CGI by 9.2% during the second 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. Finally, CWM LLC boosted its position in shares of CGI by 14.8% during the third quarter. CWM LLC now owns 1,365 shares of the technology company’s stock worth $157,000 after purchasing an additional 176 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors.

CGI Price Performance

Shares of NYSE GIB opened at $107.06 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.02. The business has a 50-day moving average of $113.93 and a 200-day moving average of $107.84. The stock has a market capitalization of $24.40 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 2.37 and a beta of 0.96. CGI Inc. has a fifty-two week low of $96.92 and a fifty-two week high of $118.89.

CGI Dividend Announcement

The company also recently announced a — dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be paid a $0.111 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a dividend yield of 0.4%.

Analysts Set New Price Targets

GIB has been the topic of several research analyst reports. Sanford C. Bernstein raised CGI to a “strong-buy” rating in a research note on Thursday, August 1st. CIBC raised 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 upgraded CGI from a “sell” rating to a “hold” rating in a research report on Friday. Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, UBS Group initiated coverage on shares of CGI in a report on Friday, July 19th. They issued a “neutral” rating and a $112.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average 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.