Wellington Management Group LLP lifted its position in CGI Inc. (NYSE:GIB – Free Report) TSE: GIB.A by 21.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,516 shares of the technology company’s stock after buying an additional 16,844 shares during the quarter. Wellington Management Group LLP’s holdings in CGI were worth $11,118,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Crestwood Advisors Group LLC grew its position in shares of CGI by 2.4% in the 3rd quarter. Crestwood Advisors Group LLC now owns 4,222 shares of the technology company’s stock valued at $485,000 after acquiring an additional 97 shares during the period. West Family Investments Inc. grew its holdings in CGI by 5.5% during the third quarter. West Family Investments Inc. now owns 2,323 shares of the technology company’s stock worth $267,000 after purchasing an additional 121 shares during the period. EverSource Wealth Advisors LLC increased its position in CGI by 9.2% during the second quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock worth $205,000 after buying an additional 173 shares during the last quarter. CWM LLC raised its stake in CGI by 14.8% in the third quarter. CWM LLC now owns 1,365 shares of the technology company’s stock valued at $157,000 after buying an additional 176 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its position in shares of CGI by 0.6% in the third quarter. Sequoia Financial Advisors LLC now owns 31,098 shares of the technology company’s stock valued at $3,575,000 after buying an additional 181 shares during the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on the company. CIBC raised CGI from a “neutral” rating to an “outperformer” rating and boosted their target price for the stock from $155.00 to $178.00 in a report on Tuesday, October 15th. StockNews.com upgraded shares of CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Finally, Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $137.00.
NYSE:GIB opened at $112.61 on Monday. The stock has a 50 day simple moving average of $112.84 and a 200 day simple moving average of $109.23. The stock has a market cap of $25.67 billion, a P/E ratio of 20.93, a PEG ratio of 2.60 and a beta of 0.94. CGI Inc. has a 1-year low of $96.92 and a 1-year 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 firm also recently announced a — dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be given a $0.111 dividend. The ex-dividend date is Wednesday, November 20th. This represents a dividend yield of 0.4%. CGI’s payout ratio is presently 8.18%.
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.
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