CGI Inc. (NYSE:GIB) Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. trimmed its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 6.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 381,437 shares of the technology company’s stock after selling 24,583 shares during the quarter. CGI comprises 1.9% of Addenda Capital Inc.’s holdings, making the stock its 15th largest position. Addenda Capital Inc. owned approximately 0.17% of CGI worth $41,699,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in CGI during the 3rd quarter worth approximately $28,000. Blue Trust Inc. raised its holdings in shares of CGI by 288.2% during the third quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock worth $91,000 after purchasing an additional 585 shares during the last quarter. CWM LLC lifted its position in CGI by 14.8% during the third 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 period. EverSource Wealth Advisors LLC lifted its position in CGI by 9.2% during the second quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock valued at $205,000 after purchasing an additional 173 shares during the period. Finally, Werba Rubin Papier Wealth Management acquired a new stake in CGI during the 3rd quarter worth about $208,000. Institutional investors and hedge funds own 66.68% of the company’s stock.

CGI Stock Down 0.3 %

Shares of GIB opened at $108.42 on Tuesday. The firm has a market cap of $24.71 billion, a P/E ratio of 20.15, a PEG ratio of 2.31 and a beta of 0.95. CGI Inc. has a 12 month low of $96.92 and a 12 month high of $118.89. The stock’s 50 day moving average is $110.48 and its two-hundred day moving average is $110.81. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29.

CGI Announces Dividend

The business also recently declared a — dividend, which was paid on Friday, December 20th. Investors of record on Wednesday, November 20th were issued a $0.111 dividend. This represents a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, November 20th. CGI’s payout ratio is presently 8.55%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GIB shares. Royal Bank of Canada reiterated an “outperform” rating and set a $178.00 price objective on shares of CGI in a research note on Monday, January 6th. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating 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, November 15th. Finally, CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and boosted their target price for the company from $155.00 to $178.00 in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CGI currently has an average rating of “Buy” and an average target price of $147.25.

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.