PCJ Investment Counsel Ltd. Sells 5,080 Shares of CGI Inc. (NYSE:GIB)

PCJ Investment Counsel Ltd. cut its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 32.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,630 shares of the technology company’s stock after selling 5,080 shares during the period. PCJ Investment Counsel Ltd.’s holdings in CGI were worth $1,223,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. increased its holdings 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 increased its holdings in CGI by 14.8% during the third quarter. CWM LLC now owns 1,365 shares of the technology company’s stock valued at $157,000 after buying an additional 176 shares during the period. Werba Rubin Papier Wealth Management purchased a new position in CGI during the third quarter valued at approximately $208,000. Thrivent Financial for Lutherans purchased a new position in CGI during the third quarter valued at approximately $209,000. Finally, Atria Investments Inc purchased a new position in CGI during the third quarter valued at approximately $218,000. 66.68% of the stock is owned by hedge funds and other institutional investors.

CGI Trading Up 0.1 %

NYSE:GIB opened at $109.70 on Wednesday. CGI Inc. has a 12 month low of $96.92 and a 12 month high of $118.89. The firm has a fifty day simple moving average of $113.58 and a 200-day simple moving average of $108.07. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $25.00 billion, a P/E ratio of 20.39, a PEG ratio of 2.27 and a beta of 0.96.

CGI Announces Dividend

The business also recently disclosed a — dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.111 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a dividend yield of 0.4%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Cibc World Mkts raised 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 report on Friday, November 15th. Sanford C. Bernstein raised shares of CGI to a “strong-buy” rating in a report on Thursday, August 1st. Finally, CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and lifted their price target for the stock 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 assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus 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.