CGI Inc. (NYSE:GIB) Stock Holdings Increased by TD Asset Management Inc.

TD Asset Management Inc. raised its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 3.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,383,862 shares of the technology company’s stock after purchasing an additional 81,440 shares during the quarter. TD Asset Management Inc.’s holdings in CGI were worth $260,697,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GIB. Natixis Advisors LLC boosted its stake in shares of CGI by 18.2% during the 3rd quarter. Natixis Advisors LLC now owns 23,165 shares of the technology company’s stock worth $2,663,000 after acquiring an additional 3,564 shares in the last quarter. Thrivent Financial for Lutherans purchased a new stake in shares of CGI during the third quarter valued at $209,000. Charles Schwab Investment Management Inc. lifted its holdings 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 valued at $64,518,000 after purchasing an additional 21,427 shares during the last quarter. Citigroup Inc. boosted its position in shares of CGI by 2.0% in the 3rd quarter. Citigroup Inc. now owns 100,915 shares of the technology company’s stock valued at $11,625,000 after purchasing an additional 1,970 shares during the period. Finally, Cerity Partners LLC increased its stake in CGI by 60.2% in the 3rd quarter. Cerity Partners LLC now owns 7,379 shares of the technology company’s stock worth $848,000 after purchasing an additional 2,772 shares in the last quarter. Institutional investors and hedge funds own 66.68% of the company’s stock.

CGI Trading Up 1.4 %

CGI stock opened at $100.12 on Tuesday. CGI Inc. has a 52 week low of $96.92 and a 52 week high of $122.79. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31. The firm has a market capitalization of $22.70 billion, a PE ratio of 18.10, a PEG ratio of 2.58 and a beta of 0.96. The business’s 50-day simple moving average is $110.99 and its 200-day simple moving average is $111.89.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, hitting the consensus estimate of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. Equities research analysts forecast that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 14th were paid a dividend of $0.1039 per share. This represents a $0.42 annualized dividend and a yield of 0.41%. The ex-dividend date was Friday, February 14th. CGI’s payout ratio is currently 7.41%.

Wall Street Analyst Weigh In

GIB has been the subject of a number of analyst reports. UBS Group upped their price objective on shares of CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $178.00 price target on shares of CGI in a research note on Monday, January 6th. Finally, Jefferies Financial Group decreased their price objective on shares of CGI from $140.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $153.25.

About CGI

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.