JPMorgan Chase & Co. Sells 206,758 Shares of CGI Inc. (NYSE:GIB)

JPMorgan Chase & Co. trimmed its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 19.0% during the third quarter, HoldingsChannel reports. The firm owned 882,630 shares of the technology company’s stock after selling 206,758 shares during the quarter. JPMorgan Chase & Co.’s holdings in CGI were worth $101,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in GIB. Van ECK Associates Corp raised its position in CGI by 5.8% in the second quarter. Van ECK Associates Corp now owns 32,771 shares of the technology company’s stock worth $3,271,000 after acquiring an additional 1,792 shares during the period. Versor Investments LP bought a new stake in shares of CGI in the 2nd quarter worth approximately $340,000. TD Asset Management Inc lifted its stake in CGI by 2.0% in the second 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 during the last quarter. Lloyd Advisory Services LLC. bought a new position in CGI during the second quarter valued at $299,000. Finally, Caprock Group LLC purchased a new stake in CGI in the second quarter worth $448,000. Institutional investors own 66.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GIB. StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and boosted their price target for the company from $155.00 to $178.00 in a research report on Tuesday, October 15th. 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, CGI has a consensus rating of “Buy” and a consensus target price of $137.00.

CGI Stock Performance

NYSE:GIB opened at $109.18 on Friday. The stock has a market cap of $24.88 billion, a P/E ratio of 20.29, a PEG ratio of 2.60 and a beta of 0.94. 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 business’s 50-day moving average price is $111.34 and its two-hundred day moving average price is $110.01. CGI Inc. has a twelve month low of $96.92 and a twelve month high of $118.89.

CGI Announces Dividend

The business also recently announced a — dividend, which was paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th were given a dividend of $0.111 per share. The ex-dividend date was Wednesday, November 20th. This represents a yield of 0.4%. CGI’s payout ratio is presently 8.18%.

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.