Nicola Wealth Management LTD. Decreases Stake in CGI Inc. (NYSE:GIB)

Nicola Wealth Management LTD. decreased its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 134,500 shares of the technology company’s stock after selling 4,400 shares during the period. Nicola Wealth Management LTD.’s holdings in CGI were worth $15,462,000 as of its most recent filing with the SEC.

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

CGI Stock Performance

GIB traded down $0.27 on Thursday, hitting $111.86. The company’s stock had a trading volume of 22,210 shares, compared to its average volume of 147,976. The company’s 50 day simple moving average is $113.93 and its 200-day simple moving average is $107.84. The firm has a market cap of $25.49 billion, a P/E ratio of 20.85, a price-to-earnings-growth ratio of 2.37 and a beta of 0.96. CGI Inc. has a 12 month low of $96.92 and a 12 month high of $118.89. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.29.

CGI Dividend Announcement

The company also recently declared a — dividend, which will be paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th will be issued a $0.111 dividend. This represents a yield of 0.4%. The ex-dividend date is Wednesday, November 20th.

Analysts Set New Price Targets

GIB has been the subject of several research analyst reports. StockNews.com lowered shares of CGI from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and raised their price target for the stock from $155.00 to $178.00 in a research note on Tuesday, October 15th. UBS Group initiated coverage on shares of CGI in a research note on Friday, July 19th. They set a “neutral” rating and a $112.00 price target for the company. Cibc World Mkts raised shares of CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Sanford C. Bernstein raised shares of CGI to a “strong-buy” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $137.00.

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.