Wellington Management Group LLP Has $11.12 Million Position in CGI Inc. (NYSE:GIB)

Wellington Management Group LLP boosted its stake in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 21.1% during the third quarter, Holdings Channel.com reports. The fund owned 96,516 shares of the technology company’s stock after acquiring an additional 16,844 shares during the period. Wellington Management Group LLP’s holdings in CGI were worth $11,118,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GIB. Blue Trust Inc. increased its position in shares of CGI by 288.2% in 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 period. CWM LLC increased its holdings in CGI by 14.8% in 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. EverSource Wealth Advisors LLC increased its holdings in CGI by 9.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock valued at $205,000 after buying an additional 173 shares during the period. Werba Rubin Papier Wealth Management acquired a new position in shares of CGI in the 3rd quarter valued at approximately $208,000. Finally, Thrivent Financial for Lutherans bought a new stake in shares of CGI during the 3rd quarter worth approximately $209,000. 66.68% of the stock is owned by institutional investors and hedge funds.

CGI Stock Performance

Shares of CGI stock opened at $112.61 on Monday. The company’s 50 day moving average price is $112.84 and its two-hundred day moving average price is $109.23. The firm has a market capitalization of $25.67 billion, a P/E ratio of 20.93, a P/E/G ratio of 2.60 and a beta of 0.94. CGI Inc. has a fifty-two week low of $96.92 and a fifty-two week high of $118.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.02.

CGI Announces Dividend

The company also recently disclosed 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 dividend yield of 0.4%. The ex-dividend date is Wednesday, November 20th. CGI’s dividend payout ratio (DPR) is 8.18%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GIB shares. CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and boosted their price objective for the company from $155.00 to $178.00 in a research report on Tuesday, October 15th. StockNews.com raised CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Finally, Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Two equities research 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. Based on data from MarketBeat, CGI currently has a consensus rating of “Buy” and an average 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.