Crossmark Global Holdings Inc. Raises Stock Position in CGI Inc. (NYSE:GIB)

Crossmark Global Holdings Inc. grew its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 3.5% during the fourth quarter, Holdings Channel reports. The firm owned 15,492 shares of the technology company’s stock after purchasing an additional 529 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in CGI were worth $1,694,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of GIB. Geode Capital Management LLC grew its position in shares of CGI by 8.6% during the third quarter. Geode Capital Management LLC now owns 998,470 shares of the technology company’s stock worth $115,844,000 after buying an additional 79,362 shares in the last quarter. Barclays PLC grew its position in shares of CGI by 182.6% during the third quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock worth $54,808,000 after buying an additional 308,040 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of CGI by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 560,159 shares of the technology company’s stock worth $64,518,000 after buying an additional 21,427 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in CGI in the third quarter valued at approximately $825,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in 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 purchasing an additional 555,017 shares in the last quarter. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

CGI Price Performance

Shares of NYSE GIB opened at $111.53 on Friday. 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 Inc. has a twelve month low of $96.92 and a twelve month high of $118.89. The stock has a 50 day moving average of $110.37 and a two-hundred day moving average of $110.92. The stock has a market cap of $25.42 billion, a P/E ratio of 20.73, a P/E/G ratio of 2.37 and a beta of 0.95.

CGI Announces Dividend

The company also recently disclosed a — dividend, which was paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th were paid a $0.111 dividend. This represents a yield of 0.4%. The ex-dividend date was Wednesday, November 20th. CGI’s dividend payout ratio is currently 8.55%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $178.00 price target on shares of CGI in a report on Monday, January 6th. CIBC raised CGI from a “neutral” rating to an “outperformer” rating and upped their price target for the company from $155.00 to $178.00 in a report on Tuesday, October 15th. Cibc World Mkts raised CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. StockNews.com raised CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Finally, Jefferies Financial Group lowered their price target on CGI from $140.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $150.75.

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.