Montrusco Bolton Investments Inc. Boosts Stake in CGI Inc. (NYSE:GIB)

Montrusco Bolton Investments Inc. lifted its holdings in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 443.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,210 shares of the technology company’s stock after buying an additional 82,575 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in CGI were worth $11,659,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of GIB. Janus Henderson Group PLC boosted its stake in shares of CGI by 3,776.8% in the first quarter. Janus Henderson Group PLC now owns 699,798 shares of the technology company’s stock valued at $77,381,000 after buying an additional 681,747 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of CGI by 68.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock valued at $157,485,000 after buying an additional 555,017 shares in the last quarter. Fiera Capital Corp boosted its stake in shares of CGI by 2.7% in the third quarter. Fiera Capital Corp now owns 4,384,639 shares of the technology company’s stock valued at $505,173,000 after buying an additional 114,864 shares in the last quarter. Andra AP fonden purchased a new stake in shares of CGI in the second quarter valued at approximately $11,418,000. Finally, Dimensional Fund Advisors LP raised its holdings in CGI by 22.3% during the second quarter. Dimensional Fund Advisors LP now owns 625,106 shares of the technology company’s stock worth $62,394,000 after purchasing an additional 113,903 shares during the last quarter. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. StockNews.com raised CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Sanford C. Bernstein raised CGI to a “strong-buy” rating in a report on Thursday, August 1st. Cibc World Mkts raised CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, CIBC raised CGI from a “neutral” rating to an “outperformer” rating and lifted their price objective for the stock from $155.00 to $178.00 in a report on Tuesday, October 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $137.00.

CGI Stock Performance

NYSE GIB opened at $111.62 on Friday. The stock has a market cap of $25.44 billion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 2.53 and a beta of 0.96. The business has a fifty day moving average of $113.34 and a 200-day moving average of $108.17. CGI Inc. has a fifty-two week low of $96.92 and a fifty-two week high of $118.89. 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 Dividend Announcement

The firm also recently announced 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%. CGI’s payout ratio is currently 8.18%.

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.