Swiss National Bank Sells 3,000 Shares of CGI Inc. (NYSE:GIB)

Swiss National Bank decreased its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 0.5% in the third quarter, Holdings Channel.com reports. The firm owned 616,200 shares of the technology company’s stock after selling 3,000 shares during the period. Swiss National Bank’s holdings in CGI were worth $71,016,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GIB. Fiera Capital Corp increased its position in CGI by 1.9% during the 2nd quarter. Fiera Capital Corp now owns 4,269,775 shares of the technology company’s stock valued at $426,353,000 after buying an additional 79,303 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of CGI by 8.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 692,449 shares of the technology company’s stock worth $76,467,000 after purchasing an additional 55,499 shares during the last quarter. GHP Investment Advisors Inc. boosted its stake in CGI by 14.4% in the 2nd quarter. GHP Investment Advisors Inc. now owns 41,348 shares of the technology company’s stock worth $4,127,000 after purchasing an additional 5,213 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in CGI during the 3rd quarter valued at about $4,539,000. Finally, Promethos Capital LLC increased its stake in CGI by 24.0% during the 2nd quarter. Promethos Capital LLC now owns 84,444 shares of the technology company’s stock valued at $8,424,000 after purchasing an additional 16,317 shares in the last quarter. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

CGI Trading Up 0.1 %

Shares of GIB stock opened at $109.70 on Wednesday. The stock has a market capitalization of $25.00 billion, a P/E ratio of 20.39, a P/E/G ratio of 2.27 and a beta of 0.96. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29. The firm’s 50 day moving average is $113.58 and its 200 day moving average is $108.07. CGI Inc. has a 12-month low of $96.92 and a 12-month high of $118.89.

CGI Announces Dividend

The company also recently declared a — dividend, which will be paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.111 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a dividend yield of 0.4%.

Analyst Ratings Changes

GIB has been the topic of several analyst reports. StockNews.com upgraded shares of CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Sanford C. Bernstein upgraded CGI to a “strong-buy” rating in a research note on Thursday, August 1st. CIBC raised CGI from a “neutral” rating to an “outperformer” rating and lifted their target price for the stock from $155.00 to $178.00 in a report on Tuesday, October 15th. Finally, Cibc World Mkts raised CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target 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.