HighTower Advisors LLC Sells 334 Shares of CGI Inc. (NYSE:GIB)

HighTower Advisors LLC decreased its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 4.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,032 shares of the technology company’s stock after selling 334 shares during the period. HighTower Advisors LLC’s holdings in CGI were worth $917,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Fiera Capital Corp grew its holdings in CGI by 1.9% in the 2nd quarter. Fiera Capital Corp now owns 4,269,775 shares of the technology company’s stock worth $426,353,000 after acquiring an additional 79,303 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of CGI by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 560,159 shares of the technology company’s stock worth $64,518,000 after purchasing an additional 21,427 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in CGI during the 3rd quarter valued at about $825,000. Connor Clark & Lunn Investment Management Ltd. raised its position in CGI by 68.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock valued at $157,485,000 after purchasing an additional 555,017 shares during the last quarter. Finally, GHP Investment Advisors Inc. lifted its holdings in CGI by 14.4% in the 2nd quarter. GHP Investment Advisors Inc. now owns 41,348 shares of the technology company’s stock worth $4,127,000 after buying an additional 5,213 shares during the period. 66.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GIB shares. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. StockNews.com upgraded shares of CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Finally, CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and lifted their target price for the company from $155.00 to $178.00 in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $137.00.

CGI Price Performance

GIB opened at $109.74 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29. The company has a market cap of $25.01 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 2.60 and a beta of 0.94. The stock has a fifty day simple moving average of $112.68 and a two-hundred day simple moving average of $109.39. CGI Inc. has a 12-month low of $96.92 and a 12-month high of $118.89.

CGI Announces Dividend

The firm also recently declared a — dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be given a dividend of $0.111 per share. The ex-dividend date is Wednesday, November 20th. This represents a yield of 0.4%. CGI’s dividend payout ratio (DPR) is currently 8.18%.

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.