CGI Inc. (NYSE:GIB) Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. decreased its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 6.1% in the fourth quarter, Holdings Channel reports. The fund owned 381,437 shares of the technology company’s stock after selling 24,583 shares during the period. CGI accounts for approximately 1.9% of Addenda Capital Inc.’s investment portfolio, making the stock its 15th largest holding. Addenda Capital Inc.’s holdings in CGI were worth $41,699,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of GIB. American Century Companies Inc. increased its holdings in shares of CGI by 2.0% in the second quarter. American Century Companies Inc. now owns 27,896 shares of the technology company’s stock valued at $2,784,000 after purchasing an additional 540 shares during the last quarter. Dimensional Fund Advisors LP raised 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 acquiring an additional 113,903 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in shares of CGI by 23.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,301 shares of the technology company’s stock valued at $1,406,000 after acquiring an additional 2,737 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of CGI during the 2nd quarter valued at about $230,000. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in shares of CGI by 12.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 30,967 shares of the technology company’s stock valued at $3,091,000 after purchasing an additional 3,404 shares during the period. 66.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $178.00 target price on shares of CGI in a research note on Monday, January 6th. StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and lifted their target price 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, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $147.25.

CGI Stock Down 0.3 %

Shares of GIB opened at $108.42 on Tuesday. The company’s 50-day simple moving average is $110.48 and its 200-day simple moving average is $110.81. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.02 and a current ratio of 1.36. CGI Inc. has a 1 year low of $96.92 and a 1 year high of $118.89. The stock has a market capitalization of $24.71 billion, a PE ratio of 20.15, a P/E/G ratio of 2.31 and a beta of 0.95.

CGI Dividend Announcement

The firm also recently announced a — dividend, which was paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th were issued a dividend of $0.111 per share. The ex-dividend date was Wednesday, November 20th. This represents a yield of 0.4%. CGI’s dividend payout ratio (DPR) is presently 8.55%.

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.