Gulf International Bank UK Ltd Reduces Holdings in CGI Inc. (NYSE:GIB)

Gulf International Bank UK Ltd reduced its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 58.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 558 shares of the technology company’s stock after selling 787 shares during the period. Gulf International Bank UK Ltd’s holdings in CGI were worth $64,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. PDS Planning Inc acquired a new position in shares of CGI in the third quarter worth about $241,000. Intact Investment Management Inc. increased its holdings in CGI by 25.5% during the 3rd quarter. Intact Investment Management Inc. now owns 141,105 shares of the technology company’s stock worth $16,237,000 after purchasing an additional 28,660 shares during the last quarter. Van ECK Associates Corp raised its position in shares of CGI by 11.0% in the 3rd quarter. Van ECK Associates Corp now owns 36,378 shares of the technology company’s stock valued at $4,144,000 after purchasing an additional 3,607 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of CGI by 43.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 9,268 shares of the technology company’s stock valued at $1,065,000 after buying an additional 2,815 shares during the last quarter. Finally, US Bancorp DE grew its position in shares of CGI by 8.4% during the third quarter. US Bancorp DE now owns 3,099 shares of the technology company’s stock worth $356,000 after buying an additional 240 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Stock Performance

Shares of NYSE GIB opened at $111.15 on Friday. CGI Inc. has a 12-month low of $96.92 and a 12-month high of $118.89. The company has a market cap of $25.33 billion, a PE ratio of 20.66, a P/E/G ratio of 2.39 and a beta of 0.96. The stock has a 50 day simple moving average of $113.97 and a 200-day simple moving average of $107.65. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22.

CGI Announces Dividend

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

Analyst Ratings Changes

Several research firms recently issued reports on GIB. Jefferies Financial Group upped their price target on shares of CGI from $120.00 to $121.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Sanford C. Bernstein upgraded shares of CGI to a “strong-buy” rating in a research note on Thursday, August 1st. UBS Group assumed coverage on CGI in a research note on Friday, July 19th. They issued a “neutral” rating and a $112.00 price target for the company. StockNews.com cut CGI from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, one has issued 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $137.00.

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.