The reason for this is because for the GPU to begin to consider drawing a frame, the CPU has to be caught up with its work load. If the GPU draws a frame, and it has to wait for the CPU to finish its operation, it's going to take a break during that time because it has no work to do. This situation would be a CPU bottleneck, and what you describe is not that.
If the CPU does its operation has to wait for the GPU to draw a frame, it's not going to work any harder to try to keep up. Ergo, low CPU usage, and High GPU usage. So odds are you have a GPU bottleneck in this particular game. Odds are the engine is trading between the two which may be why your GPU is unable to reach 99% usage.
You'll want to upgrade your GPU. I would recommend a GTX 970 for the best value, next gen experience, one of the cards I've purchased and have never looked back. Your PSU would handle it fine. It's only a 145W card. If it is beyond your budget try getting another 760. You may have to upgrade your PSU. I recommend the 750 watt EVGA. It has 4 6 pci-e connectors for maximum upgradeability.
http://www.newegg.com/Product/Product.aspx?Item=N82E16817438027&cm_re=750_watt_evga-_-17-438-027-_-Product
http://www.amazon.com/ASUS-STRIX-GTX970-DC20C-4GD5-Graphics-Cards/dp/B00NJ9BJ8G/ref=sr_1_1?ie=UTF8&qid=1412974084&sr=8-1&keywords=gtx+970
http://www.amazon.com/GTX760-DC2OC-2GD5-GeForce-256-bit-PCI-Express-OC-selected/dp/B00DBPKEOI/ref=sr_1_2?s=pc&ie=UTF8&qid=1412974101&sr=1-2&keywords=gtx+760