Citigroup Inc. Grows Stock Position in CGI Inc. (NYSE:GIB)

Citigroup Inc. raised its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 2.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,915 shares of the technology company’s stock after buying an additional 1,970 shares during the quarter. Citigroup Inc.’s holdings in CGI were worth $11,625,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Blue Trust Inc. grew its holdings in CGI by 288.2% in the third quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock valued at $91,000 after purchasing an additional 585 shares during the period. CWM LLC grew its stake in shares of CGI by 14.8% during the 3rd quarter. CWM LLC now owns 1,365 shares of the technology company’s stock valued at $157,000 after buying an additional 176 shares during the period. Werba Rubin Papier Wealth Management acquired a new stake in shares of CGI during the 3rd quarter worth $208,000. Thrivent Financial for Lutherans purchased a new position in shares of CGI in the 3rd quarter worth $209,000. Finally, Atria Investments Inc acquired a new position in CGI in the third quarter valued at $218,000. Institutional investors and hedge funds own 66.68% of the company’s stock.

CGI Stock Up 0.8 %

NYSE GIB opened at $112.59 on Friday. The stock has a market cap of $25.66 billion, a PE ratio of 20.93, a P/E/G ratio of 2.55 and a beta of 0.96. The business has a 50 day moving average price of $113.18 and a two-hundred day moving average price of $108.44. CGI Inc. has a fifty-two week low of $96.92 and a fifty-two week high of $118.89. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.29.

CGI Announces Dividend

The company also recently declared a — dividend, which will be paid on Friday, December 20th. Investors 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 is Wednesday, November 20th. CGI’s payout ratio is 8.18%.

Analyst Upgrades and Downgrades

GIB has been the subject of several research analyst reports. 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 research note on Tuesday, October 15th. Sanford C. Bernstein raised shares of CGI to a “strong-buy” rating in a research report on Thursday, August 1st. Cibc World Mkts raised shares of CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $137.00.

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.