Intech Investment Management LLC Reduces Position in CGI Inc. (NYSE:GIB)

Intech Investment Management LLC reduced its stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 4.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,620 shares of the technology company’s stock after selling 1,054 shares during the quarter. Intech Investment Management LLC’s holdings in CGI were worth $2,375,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. UniSuper Management Pty Ltd boosted its holdings in CGI by 93.3% in the 1st quarter. UniSuper Management Pty Ltd now owns 2,900 shares of the technology company’s stock valued at $320,000 after purchasing an additional 1,400 shares during the last quarter. CreativeOne Wealth LLC acquired a new position in CGI in the first quarter valued at approximately $228,000. Janus Henderson Group PLC grew its position in CGI by 3,776.8% in the first quarter. Janus Henderson Group PLC now owns 699,798 shares of the technology company’s stock worth $77,381,000 after acquiring an additional 681,747 shares during the period. Tidal Investments LLC acquired a new stake in CGI during the first quarter worth $226,000. Finally, EULAV Asset Management raised its position in CGI by 8.7% in the first quarter. EULAV Asset Management now owns 376,610 shares of the technology company’s stock valued at $41,612,000 after purchasing an additional 30,200 shares during the period. 66.68% of the stock is owned by institutional investors and hedge funds.

CGI Stock Down 0.3 %

Shares of NYSE:GIB opened at $111.60 on Monday. The firm’s 50-day moving average is $113.34 and its two-hundred day moving average is $108.24. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.02. CGI Inc. has a 1 year low of $96.92 and a 1 year high of $118.89. The firm has a market capitalization of $25.43 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 2.53 and a beta of 0.96.

CGI Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GIB. StockNews.com raised CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Cibc World Mkts raised shares of CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and increased their price objective for the stock from $155.00 to $178.00 in a research report on Tuesday, October 15th. Finally, Sanford C. Bernstein upgraded shares of CGI to a “strong-buy” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price 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.