Caisse DE Depot ET Placement DU Quebec Acquires 230,000 Shares of CGI Inc. (NYSE:GIB)

Caisse DE Depot ET Placement DU Quebec raised its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 1.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,290,487 shares of the technology company’s stock after acquiring an additional 230,000 shares during the period. CGI makes up approximately 3.7% of Caisse DE Depot ET Placement DU Quebec’s investment portfolio, making the stock its 4th largest position. Caisse DE Depot ET Placement DU Quebec owned about 7.15% of CGI worth $1,876,550,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of GIB. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of CGI by 68.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock worth $157,485,000 after acquiring an additional 555,017 shares during the period. Fiera Capital Corp boosted its holdings in CGI by 2.7% in the 3rd quarter. Fiera Capital Corp now owns 4,384,639 shares of the technology company’s stock valued at $505,173,000 after purchasing an additional 114,864 shares during the last quarter. Andra AP fonden purchased a new stake in shares of CGI in the 2nd quarter valued at approximately $11,418,000. Dimensional Fund Advisors LP increased its holdings in shares of CGI by 22.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 625,106 shares of the technology company’s stock worth $62,394,000 after buying an additional 113,903 shares during the last quarter. Finally, Intact Investment Management Inc. purchased a new stake in shares of CGI during the 2nd quarter valued at approximately $11,222,000. 66.68% of the stock is owned by hedge funds and other institutional investors.

CGI Price Performance

GIB stock opened at $112.49 on Friday. The business’s fifty day moving average price is $113.17 and its 200 day moving average price is $108.51. CGI Inc. has a 12-month low of $96.92 and a 12-month high of $118.89. 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 company has a market capitalization of $25.64 billion, a PE ratio of 20.91, a P/E/G ratio of 2.55 and a beta of 0.96.

CGI Dividend Announcement

The firm 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 yield of 0.4%. CGI’s dividend payout ratio (DPR) is presently 8.18%.

Analyst Upgrades and Downgrades

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