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

JPMorgan Chase & Co. reduced its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 19.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 882,630 shares of the technology company’s stock after selling 206,758 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.39% of CGI worth $101,467,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of GIB. Van ECK Associates Corp grew its holdings in CGI by 5.8% during the 2nd 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 CGI in the second 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 buying an additional 43,355 shares during the period. Lloyd Advisory Services LLC. bought a new position in shares of CGI during the 2nd quarter worth approximately $299,000. Finally, Caprock Group LLC acquired a new stake in shares of CGI during the 2nd quarter worth approximately $448,000. 66.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Stock Down 0.1 %

CGI stock opened at $109.18 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29. CGI Inc. has a 1-year low of $96.92 and a 1-year high of $118.89. The firm has a market capitalization of $24.88 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 2.60 and a beta of 0.94. The firm’s fifty day moving average price is $111.34 and its two-hundred day moving average price is $110.01.

CGI Dividend Announcement

The business also recently disclosed a — dividend, which was paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th were paid a $0.111 dividend. This represents a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, November 20th. CGI’s dividend payout ratio (DPR) is presently 8.18%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GIB. StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Cibc World Mkts raised shares of CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, CIBC upgraded CGI from a “neutral” rating to an “outperformer” rating and raised their target price for the company from $155.00 to $178.00 in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $137.00.

CGI 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.