Crossmark Global Holdings Inc. Decreases Stake in CGI Inc. (NYSE:GIB)

Crossmark Global Holdings Inc. reduced its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 48.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,963 shares of the technology company’s stock after selling 13,820 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in CGI were worth $1,721,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of CGI by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 7,603,481 shares of the technology company’s stock valued at $840,109,000 after acquiring an additional 64,037 shares in the last quarter. Fiera Capital Corp lifted its holdings in shares of CGI by 2.7% during the 3rd quarter. Fiera Capital Corp now owns 4,384,639 shares of the technology company’s stock worth $505,173,000 after acquiring an additional 114,864 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of CGI by 2.0% in the 2nd quarter. TD Asset Management Inc now owns 2,203,320 shares of the technology company’s stock valued at $219,873,000 after purchasing an additional 43,355 shares in the last quarter. Cibc World Market Inc. grew its position in CGI by 6.2% during the 2nd quarter. Cibc World Market Inc. now owns 1,803,131 shares of the technology company’s stock worth $180,025,000 after acquiring an additional 105,817 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of CGI by 3,776.8% in the first quarter. Janus Henderson Group PLC now owns 699,798 shares of the technology company’s stock valued at $77,381,000 after acquiring an additional 681,747 shares during the period. Hedge funds and other institutional investors own 66.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Sanford C. Bernstein upgraded CGI to a “strong-buy” rating in a research note on Thursday, August 1st. StockNews.com downgraded CGI from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and raised their target price for the company from $155.00 to $178.00 in a report on Tuesday, October 15th. Finally, UBS Group initiated coverage on CGI in a research report on Friday, July 19th. They issued a “neutral” rating and a $112.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, CGI currently has a consensus rating of “Moderate Buy” and an average target price of $137.00.

CGI Stock Performance

Shares of NYSE GIB opened at $112.19 on Thursday. The stock has a market cap of $25.57 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 2.37 and a beta of 0.96. The company has a 50 day simple moving average of $113.95 and a two-hundred day simple moving average of $107.81. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29. CGI Inc. has a 12 month low of $96.92 and a 12 month high of $118.89.

CGI Announces Dividend

The business also recently declared a — dividend, which will be paid on Friday, December 20th. Investors 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 yield of 0.4%.

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.