Metis Global Partners LLC Grows Stake in CGI Inc. (NYSE:GIB)

Metis Global Partners LLC increased its position in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 12.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,426 shares of the technology company’s stock after buying an additional 1,171 shares during the quarter. Metis Global Partners LLC’s holdings in CGI were worth $1,200,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in CGI by 288.2% during the 3rd quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock worth $91,000 after buying an additional 585 shares during the last quarter. CWM LLC grew its stake in CGI by 14.8% during the 3rd quarter. CWM LLC now owns 1,365 shares of the technology company’s stock worth $157,000 after buying an additional 176 shares during the last quarter. Werba Rubin Papier Wealth Management acquired a new stake in CGI during the 3rd quarter worth approximately $208,000. Atria Investments Inc purchased a new position in shares of CGI in the 3rd quarter valued at approximately $218,000. Finally, Tidal Investments LLC acquired a new position in shares of CGI in the first quarter valued at approximately $226,000. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Price Performance

NYSE:GIB opened at $107.39 on Friday. The firm has a market cap of $24.48 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 2.37 and a beta of 0.96. CGI Inc. has a 12-month low of $96.92 and a 12-month high of $118.89. 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’s 50-day moving average is $113.74 and its two-hundred day moving average is $107.87.

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 of this dividend is Wednesday, November 20th. This represents a yield of 0.4%. CGI’s payout ratio is currently 8.18%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. StockNews.com upgraded shares of CGI from a “sell” rating to a “hold” rating in a report on Friday. Sanford C. Bernstein upgraded shares of CGI to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and increased their target price for the company 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 assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, CGI currently has an average rating of “Buy” and a consensus target price 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.