Swiss National Bank Sells 3,000 Shares of CGI Inc. (NYSE:GIB)

Swiss National Bank trimmed its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 0.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 616,200 shares of the technology company’s stock after selling 3,000 shares during the quarter. Swiss National Bank owned 0.27% of CGI worth $71,016,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Blue Trust Inc. boosted its position in CGI by 288.2% during the third quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock valued at $91,000 after buying an additional 585 shares during the period. CWM LLC lifted its position 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 purchasing an additional 176 shares during the last quarter. Werba Rubin Papier Wealth Management purchased a new stake in shares of CGI during the third quarter valued at approximately $208,000. Thrivent Financial for Lutherans bought a new position in shares of CGI in the third quarter worth approximately $209,000. Finally, Atria Investments Inc bought a new stake in CGI during the 3rd quarter valued at $218,000. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Stock Performance

CGI stock opened at $109.70 on Wednesday. CGI Inc. has a fifty-two week low of $96.92 and a fifty-two week high of $118.89. The stock’s 50 day simple moving average is $113.58 and its two-hundred day simple moving average is $108.07. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.02 and a current ratio of 1.36. The stock has a market cap of $25.00 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 2.27 and a beta of 0.96.

CGI Dividend Announcement

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

Analyst Ratings Changes

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