BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 36,781 Shares of CGI Inc. (NYSE:GIB)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 127.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,546 shares of the technology company’s stock after acquiring an additional 36,781 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in CGI were worth $7,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec lifted its holdings in CGI by 1.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,290,487 shares of the technology company’s stock worth $1,876,550,000 after purchasing an additional 230,000 shares in the last quarter. Fiera Capital Corp lifted its holdings in shares of CGI by 2.7% in the third 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 boosted its position in shares of CGI by 3.3% in the third quarter. Bank of Montreal Can now owns 3,275,421 shares of the technology company’s stock valued at $373,887,000 after acquiring an additional 104,300 shares during the period. TD Asset Management Inc grew its stake in CGI by 2.0% during the second quarter. TD Asset Management Inc now owns 2,203,320 shares of the technology company’s stock valued at $219,873,000 after acquiring an additional 43,355 shares in the last quarter. Finally, Cibc World Market Inc. increased its holdings in CGI by 6.2% during 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. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Trading Down 0.2 %

Shares of GIB stock opened at $112.42 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.29. The firm has a market cap 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 business has a 50-day moving average price of $113.17 and a two-hundred day moving average price of $108.58. CGI Inc. has a 12-month low of $96.92 and a 12-month high of $118.89.

CGI Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently commented on GIB. CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and boosted their price target for the company from $155.00 to $178.00 in a research report on Tuesday, October 15th. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, StockNews.com raised CGI from a “sell” rating to a “hold” rating in a 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price 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.