Prime Capital Investment Advisors LLC Has $1.30 Million Stock Holdings in CGI Inc. (NYSE:GIB)

Prime Capital Investment Advisors LLC reduced its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 0.9% in the third quarter, Holdings Channel reports. The institutional investor owned 11,343 shares of the technology company’s stock after selling 106 shares during the period. Prime Capital Investment Advisors LLC’s holdings in CGI were worth $1,304,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. BNP Paribas Financial Markets bought a new stake in CGI during the 1st quarter worth approximately $423,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of CGI by 3.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 141,968 shares of the technology company’s stock valued at $15,639,000 after purchasing an additional 5,100 shares during the last quarter. Intech Investment Management LLC purchased a new position in CGI during the first quarter worth about $5,529,000. Vanguard Group Inc. increased its stake in CGI by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 7,603,481 shares of the technology company’s stock valued at $840,109,000 after buying an additional 64,037 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board lifted its position in shares of CGI by 57.1% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 26,730 shares of the technology company’s stock worth $2,950,000 after buying an additional 9,719 shares in the last quarter. 66.68% of the stock is owned by institutional investors.

CGI Trading Down 4.5 %

Shares of GIB stock opened at $107.06 on Friday. The stock has a market capitalization of $24.40 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 2.37 and a beta of 0.96. The company’s fifty day simple moving average is $113.93 and its two-hundred day simple moving average is $107.84. CGI Inc. has a 1 year low of $96.92 and a 1 year high of $118.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.02.

CGI Dividend Announcement

The business also recently disclosed a — dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.111 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a dividend yield of 0.4%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. UBS Group began coverage on CGI in a report on Friday, July 19th. They set a “neutral” rating and a $112.00 price target on the stock. CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and boosted their target price for the company from $155.00 to $178.00 in a research note on Tuesday, October 15th. StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a report on Friday. Cibc World Mkts raised CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Sanford C. Bernstein raised CGI to a “strong-buy” rating in a research report on Thursday, August 1st. Two 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 stock. Based on data from MarketBeat, the stock has an average 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.