Bank of Montreal Can Has $373.89 Million Stock Holdings in CGI Inc. (NYSE:GIB)

Bank of Montreal Can lifted its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 3.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,275,421 shares of the technology company’s stock after purchasing an additional 104,300 shares during the quarter. Bank of Montreal Can owned approximately 1.44% of CGI worth $373,887,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GIB. Crestwood Advisors Group LLC increased its stake in CGI by 2.4% during the third quarter. Crestwood Advisors Group LLC now owns 4,222 shares of the technology company’s stock valued at $485,000 after acquiring an additional 97 shares during the period. First Affirmative Financial Network boosted its stake in CGI by 4.0% during the second quarter. First Affirmative Financial Network now owns 2,841 shares of the technology company’s stock worth $284,000 after buying an additional 109 shares in the last quarter. West Family Investments Inc. increased its stake in CGI by 5.5% in the third quarter. West Family Investments Inc. now owns 2,323 shares of the technology company’s stock valued at $267,000 after acquiring an additional 121 shares during the period. Cigna Investments Inc. New lifted its stake in CGI by 3.8% during the second quarter. Cigna Investments Inc. New now owns 3,948 shares of the technology company’s stock worth $394,000 after purchasing an additional 146 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in CGI by 9.2% during the second quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock valued at $205,000 after purchasing an additional 173 shares in the last quarter. 66.68% of the stock is owned by institutional investors and hedge funds.

CGI Trading Up 0.1 %

NYSE GIB traded up $0.06 on Monday, reaching $111.66. The company had a trading volume of 13,514 shares, compared to its average volume of 150,350. 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 Inc. has a 52 week low of $96.92 and a 52 week high of $118.89. The stock has a market cap of $25.45 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 2.53 and a beta of 0.96. The stock’s 50 day moving average is $113.34 and its 200-day moving average is $108.24.

CGI Announces Dividend

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

Analysts Set New Price Targets

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