Tidal Investments LLC Trims Stake in CGI Inc. (NYSE:GIB)

Tidal Investments LLC reduced its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 9.4% in the third quarter, Holdings Channel.com reports. The fund owned 3,022 shares of the technology company’s stock after selling 312 shares during the quarter. Tidal Investments LLC’s holdings in CGI were worth $347,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of CGI by 12.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,405 shares of the technology company’s stock valued at $4,431,000 after buying an additional 4,943 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in CGI by 1.6% in the second quarter. Crossmark Global Holdings Inc. now owns 28,783 shares of the technology company’s stock valued at $2,873,000 after acquiring an additional 458 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of CGI by 75.8% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 128,785 shares of the technology company’s stock valued at $12,854,000 after purchasing an additional 55,517 shares during the period. Signaturefd LLC boosted its stake in shares of CGI by 5.2% during the 2nd quarter. Signaturefd LLC now owns 7,513 shares of the technology company’s stock worth $750,000 after acquiring an additional 371 shares in the last quarter. Finally, Maryland State Retirement & Pension System purchased a new position in CGI during the second quarter worth approximately $6,432,000. 66.68% of the stock is currently owned by institutional investors.

CGI Price Performance

Shares of NYSE:GIB opened at $110.32 on Wednesday. The company has a 50-day simple moving average of $112.16 and a 200-day simple moving average of $109.63. CGI Inc. has a one year low of $96.92 and a one year high of $118.89. The stock has a market capitalization of $25.14 billion, a price-to-earnings ratio of 20.51, a PEG 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.

CGI Announces Dividend

The business also recently declared a — dividend, which was paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th were paid a dividend of $0.111 per share. 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 presently 8.18%.

Wall Street Analysts Forecast Growth

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