Wilmington Savings Fund Society FSB Makes New Investment in CGI Inc. (NYSE:GIB)

Wilmington Savings Fund Society FSB purchased a new stake in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 240 shares of the technology company’s stock, valued at approximately $28,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. National Bank of Canada FI increased its stake in CGI by 23.6% during the 3rd quarter. National Bank of Canada FI now owns 4,513,733 shares of the technology company’s stock valued at $519,072,000 after buying an additional 861,771 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of CGI by 68.2% in the third 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 acquiring an additional 555,017 shares in the last quarter. Barclays PLC increased its stake in shares of CGI by 182.6% during the third quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock valued at $54,808,000 after acquiring an additional 308,040 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its holdings in CGI by 1.4% during the third 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. Finally, Fiera Capital Corp lifted its position in 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 purchasing an additional 114,864 shares during the period. 66.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GIB shares. StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Cibc World Mkts raised CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and boosted their price target for the stock from $155.00 to $178.00 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 given a strong buy rating to the stock. According to MarketBeat.com, CGI has an average rating of “Buy” and an average price target of $137.00.

CGI Price Performance

Shares of NYSE:GIB opened at $109.54 on Tuesday. The company has a market capitalization of $24.97 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 2.60 and a beta of 0.94. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.02 and a current ratio of 1.36. The stock has a fifty day moving average of $112.28 and a 200-day moving average of $109.58. CGI Inc. has a one year low of $96.92 and a one year high of $118.89.

CGI Announces Dividend

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

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.