UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 118,247 Shares of CGI Inc. (NYSE:GIB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 17.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 577,616 shares of the technology company’s stock after selling 118,247 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.25% of CGI worth $66,403,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. raised its holdings in CGI by 288.2% during the 3rd 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 position 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 acquiring an additional 176 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of CGI by 9.2% in the second quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock valued at $205,000 after acquiring an additional 173 shares during the period. Werba Rubin Papier Wealth Management bought a new stake in shares of CGI in the 3rd quarter worth about $208,000. Finally, Thrivent Financial for Lutherans bought a new stake in shares of CGI in the 3rd quarter worth about $209,000. 66.68% of the stock is owned by institutional investors.

CGI Price Performance

CGI stock opened at $112.54 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.02. The stock has a market cap of $25.65 billion, a price-to-earnings ratio of 20.92, a price-to-earnings-growth ratio of 2.54 and a beta of 0.96. The firm has a 50-day moving average of $113.15 and a two-hundred day moving average of $108.64. CGI Inc. has a 1 year low of $96.92 and a 1 year high of $118.89.

CGI Announces Dividend

The company also recently declared a — dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be issued a $0.111 dividend. The ex-dividend date is Wednesday, November 20th. This represents a dividend yield of 0.4%. CGI’s payout ratio is 8.18%.

Analyst Ratings Changes

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

CGI Company 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.