Oppenheimer Asset Management Inc. Sells 265 Shares of CGI Inc. (NYSE:GIB)

Oppenheimer Asset Management Inc. cut its stake in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 10.7% in the third quarter, Holdings Channel reports. The fund owned 2,223 shares of the technology company’s stock after selling 265 shares during the period. Oppenheimer Asset Management Inc.’s holdings in CGI were worth $256,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in GIB. Crestwood Advisors Group LLC grew its holdings in shares of CGI by 2.4% during the third quarter. Crestwood Advisors Group LLC now owns 4,222 shares of the technology company’s stock worth $485,000 after purchasing an additional 97 shares during the last quarter. First Affirmative Financial Network lifted its holdings in CGI by 4.0% during the 2nd quarter. First Affirmative Financial Network now owns 2,841 shares of the technology company’s stock worth $284,000 after buying an additional 109 shares in the last quarter. Cigna Investments Inc. New boosted its position in CGI by 3.8% in the 2nd quarter. Cigna Investments Inc. New now owns 3,948 shares of the technology company’s stock valued at $394,000 after buying an additional 146 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of CGI by 9.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock valued at $205,000 after buying an additional 173 shares during the period. Finally, CWM LLC raised its position in shares of CGI by 14.8% during the third quarter. CWM LLC now owns 1,365 shares of the technology company’s stock worth $157,000 after acquiring an additional 176 shares during the last quarter. 66.68% of the stock is owned by institutional investors.

CGI Stock Performance

Shares of GIB stock opened at $109.87 on Thursday. The company has a market capitalization of $25.04 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 2.27 and a beta of 0.96. 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 Inc. has a 52 week low of $96.92 and a 52 week high of $118.89. The company has a 50-day simple moving average of $113.48 and a 200 day simple moving average of $108.08.

CGI Announces Dividend

The company also recently announced a — dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be given a $0.111 dividend. This represents a dividend yield of 0.4%. The ex-dividend date is Wednesday, November 20th. CGI’s payout ratio is 8.18%.

Analyst Upgrades and Downgrades

GIB has been the subject of a number of research reports. Sanford C. Bernstein upgraded CGI to a “strong-buy” rating in a research report on Thursday, August 1st. StockNews.com raised CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. 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 research report on Tuesday, October 15th. Finally, Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, CGI currently has a consensus rating of “Buy” and a consensus price target of $137.00.

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.