CGI Inc. (NYSE:GIB) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. reduced its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 10.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,223 shares of the technology company’s stock after selling 265 shares during the period. Oppenheimer Asset Management Inc.’s holdings in CGI were worth $256,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of CGI by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 7,603,481 shares of the technology company’s stock valued at $840,109,000 after purchasing an additional 64,037 shares in the last quarter. Fiera Capital Corp grew its position in shares of CGI by 2.7% during the third quarter. Fiera Capital Corp now owns 4,384,639 shares of the technology company’s stock worth $505,173,000 after acquiring an additional 114,864 shares during the last quarter. TD Asset Management Inc grew its holdings in CGI by 2.0% in the 2nd quarter. TD Asset Management Inc now owns 2,203,320 shares of the technology company’s stock worth $219,873,000 after buying an additional 43,355 shares in the last quarter. Cibc World Market Inc. increased its stake in CGI by 6.2% during the 2nd quarter. Cibc World Market Inc. now owns 1,803,131 shares of the technology company’s stock valued at $180,025,000 after buying an additional 105,817 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in CGI by 3,776.8% during the 1st quarter. Janus Henderson Group PLC now owns 699,798 shares of the technology company’s stock valued at $77,381,000 after purchasing an additional 681,747 shares in the last quarter. 66.68% of the stock is owned by hedge funds and other institutional investors.

CGI Stock Up 0.3 %

GIB stock opened at $109.87 on Thursday. The stock has a market capitalization of $25.04 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 2.27 and a beta of 0.96. The company has a 50-day moving average of $113.48 and a two-hundred day moving average of $108.08. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.02. CGI Inc. has a 52-week low of $96.92 and a 52-week high of $118.89.

CGI Dividend Announcement

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

Wall Street Analyst Weigh In

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