Barclays PLC Purchases 308,040 Shares of CGI Inc. (NYSE:GIB)

Barclays PLC grew its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 182.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 476,758 shares of the technology company’s stock after purchasing an additional 308,040 shares during the quarter. Barclays PLC owned approximately 0.21% of CGI worth $54,808,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec grew its holdings in CGI by 1.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,290,487 shares of the technology company’s stock worth $1,876,550,000 after acquiring an additional 230,000 shares during the period. National Bank of Canada FI boosted its position in shares of CGI by 23.6% during the 3rd quarter. National Bank of Canada FI now owns 4,513,733 shares of the technology company’s stock valued at $519,072,000 after purchasing an additional 861,771 shares in the last quarter. Fiera Capital Corp increased its holdings in CGI by 2.7% in the third 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 in the last quarter. Bank of Montreal Can lifted its stake in CGI by 3.3% in the third quarter. Bank of Montreal Can now owns 3,275,421 shares of the technology company’s stock valued at $373,887,000 after buying an additional 104,300 shares during the period. Finally, TD Asset Management Inc lifted its stake in CGI by 2.0% in the second quarter. TD Asset Management Inc now owns 2,203,320 shares of the technology company’s stock valued at $219,873,000 after buying an additional 43,355 shares during the period. 66.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Stock Performance

Shares of GIB stock opened at $112.31 on Friday. CGI Inc. has a 12 month low of $96.92 and a 12 month high of $118.89. The firm has a market capitalization of $25.60 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 2.55 and a beta of 0.94. The firm has a fifty day simple moving average of $112.96 and a two-hundred day simple moving average of $109.04. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29.

CGI Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on GIB shares. Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and lifted their price target for the company from $155.00 to $178.00 in a research note on Tuesday, October 15th. Finally, StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price 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.