CGI Inc. (NYSE:GIB) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 4.0% during the third quarter, Holdings Channel reports. The institutional investor owned 560,159 shares of the technology company’s stock after buying an additional 21,427 shares during the period. Charles Schwab Investment Management Inc.’s holdings in CGI were worth $64,518,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in GIB. Tidal Investments LLC acquired a new position in CGI during the first quarter worth approximately $226,000. First Affirmative Financial Network increased its holdings in shares of 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 during the last quarter. Cigna Investments Inc. New raised its position in shares of CGI by 3.8% in the 2nd quarter. Cigna Investments Inc. New now owns 3,948 shares of the technology company’s stock worth $394,000 after buying an additional 146 shares during the period. Cidel Asset Management Inc. grew its position in CGI by 0.8% during the second quarter. Cidel Asset Management Inc. now owns 254,738 shares of the technology company’s stock valued at $25,421,000 after acquiring an additional 2,053 shares during the period. Finally, Walter Public Investments Inc. grew its position in CGI by 4.0% during the second quarter. Walter Public Investments Inc. now owns 206,214 shares of the technology company’s stock valued at $20,575,000 after acquiring an additional 8,004 shares during the period. 66.68% of the stock is owned by institutional investors and hedge funds.

CGI Trading Up 0.8 %

GIB opened at $112.59 on Friday. The firm has a market capitalization of $25.66 billion, a P/E ratio of 20.93, a P/E/G ratio of 2.55 and a beta of 0.96. The firm’s 50 day moving average is $113.18 and its 200-day moving average is $108.44. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.29. CGI Inc. has a 52-week low of $96.92 and a 52-week high of $118.89.

CGI Dividend Announcement

The company also recently disclosed a — dividend, which will be paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th will be issued 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 currently 8.18%.

Analysts Set New Price Targets

Several research firms have recently weighed in on GIB. StockNews.com raised CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Sanford C. Bernstein upgraded shares of CGI to a “strong-buy” rating in a research note on Thursday, August 1st. 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 note on Tuesday, October 15th. Finally, Cibc World Mkts raised shares of CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average 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.