CGI Inc. (NYSE:GIB) Shares Sold by PCJ Investment Counsel Ltd.

PCJ Investment Counsel Ltd. cut its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 32.3% in the third quarter, HoldingsChannel reports. The firm owned 10,630 shares of the technology company’s stock after selling 5,080 shares during the period. PCJ Investment Counsel Ltd.’s holdings in CGI were worth $1,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GIB. Janus Henderson Group PLC lifted its position in CGI by 3,776.8% during the first quarter. Janus Henderson Group PLC now owns 699,798 shares of the technology company’s stock valued at $77,381,000 after purchasing an additional 681,747 shares during the period. Bessemer Group Inc. increased its holdings in CGI by 9,135.3% in the first quarter. Bessemer Group Inc. now owns 126,986 shares of the technology company’s stock valued at $14,011,000 after buying an additional 125,611 shares in the last quarter. Fiera Capital Corp increased its holdings in CGI by 2.7% in the third quarter. Fiera Capital Corp now owns 4,384,639 shares of the technology company’s stock valued at $505,173,000 after buying an additional 114,864 shares in the last quarter. Andra AP fonden purchased a new position in CGI in the second quarter valued at $11,418,000. Finally, Dimensional Fund Advisors LP increased its holdings in CGI by 22.3% in the second quarter. Dimensional Fund Advisors LP now owns 625,106 shares of the technology company’s stock valued at $62,394,000 after buying an additional 113,903 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and lifted their price objective for the company from $155.00 to $178.00 in a report on Tuesday, October 15th. Cibc World Mkts raised shares of CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Sanford C. Bernstein raised shares of CGI to a “strong-buy” rating in a research note on Thursday, August 1st. 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’s stock. According to MarketBeat, CGI has a consensus rating of “Buy” and a consensus target price of $137.00.

CGI Stock Up 0.1 %

Shares of NYSE GIB opened at $109.70 on Wednesday. CGI Inc. has a 12-month low of $96.92 and a 12-month high of $118.89. The stock has a market cap of $25.00 billion, a PE ratio of 20.39, a P/E/G ratio of 2.27 and a beta of 0.96. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average of $113.58 and a 200 day moving average of $108.07.

CGI Dividend Announcement

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

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.