CGI Inc. (NYSE:GIB) Shares Bought by Montrusco Bolton Investments Inc.

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

A number of other hedge funds also recently bought and sold shares of the stock. Crestwood Advisors Group LLC raised its position in CGI by 2.4% in the 3rd quarter. Crestwood Advisors Group LLC now owns 4,222 shares of the technology company’s stock valued at $485,000 after purchasing an additional 97 shares in the last quarter. First Affirmative Financial Network raised its position in CGI by 4.0% in the 2nd quarter. First Affirmative Financial Network now owns 2,841 shares of the technology company’s stock valued at $284,000 after purchasing an additional 109 shares in the last quarter. West Family Investments Inc. raised its position in CGI by 5.5% in the 3rd quarter. West Family Investments Inc. now owns 2,323 shares of the technology company’s stock valued at $267,000 after purchasing an additional 121 shares in the last quarter. Cigna Investments Inc. New raised its position in shares of CGI by 3.8% during the 2nd quarter. Cigna Investments Inc. New now owns 3,948 shares of the technology company’s stock worth $394,000 after acquiring an additional 146 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of CGI by 9.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock worth $205,000 after acquiring an additional 173 shares in the last quarter. Institutional investors and hedge funds own 66.68% of the company’s stock.

Analyst Ratings Changes

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

CGI Trading Down 0.3 %

GIB opened at $111.62 on Friday. The firm 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. CGI Inc. has a 52 week low of $96.92 and a 52 week high of $118.89. The business’s 50 day moving average is $113.34 and its two-hundred day moving average is $108.17. 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 Announces Dividend

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