Freedom Investment Management Inc. Has $297,000 Stock Holdings in CGI Inc. (NYSE:GIB)

Freedom Investment Management Inc. decreased its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 22.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,584 shares of the technology company’s stock after selling 757 shares during the quarter. Freedom Investment Management Inc.’s holdings in CGI were worth $297,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its stake in shares of CGI by 288.2% in the 3rd quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock valued at $91,000 after buying an additional 585 shares in the last quarter. CWM LLC raised its stake in shares of CGI by 14.8% in the 3rd quarter. CWM LLC now owns 1,365 shares of the technology company’s stock valued at $157,000 after buying an additional 176 shares in the last quarter. Werba Rubin Papier Wealth Management acquired a new position in shares of CGI in the 3rd quarter valued at $208,000. Thrivent Financial for Lutherans acquired a new position in shares of CGI in the 3rd quarter valued at $209,000. Finally, Atria Investments Inc acquired a new position in shares of CGI in the 3rd quarter valued at $218,000. Institutional investors and hedge funds own 66.68% of the company’s stock.

CGI Stock Down 0.2 %

Shares of NYSE:GIB opened at $112.42 on Monday. CGI Inc. has a 12 month low of $96.92 and a 12 month high of $118.89. The company’s 50-day moving average price is $113.17 and its two-hundred day moving average price is $108.58. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.29. The firm has a market cap of $25.62 billion, a P/E ratio of 20.90, a P/E/G ratio of 2.54 and a beta of 0.96.

CGI Announces Dividend

The business also recently disclosed a — dividend, which will be paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $0.111 per share. This represents a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, November 20th. CGI’s dividend payout ratio is currently 8.18%.

Analyst Ratings Changes

GIB has been the topic of several analyst reports. StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and upped their target price for the stock from $155.00 to $178.00 in a report on Tuesday, October 15th. Finally, Cibc World Mkts raised shares of CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. Two 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 stock. According to data from MarketBeat, 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.