TD Asset Management Inc. boosted its stake in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,383,862 shares of the technology company's stock after acquiring an additional 81,440 shares during the period. TD Asset Management Inc. owned about 1.05% of CGI worth $260,697,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the stock. Natixis Advisors LLC lifted its holdings in shares of CGI by 18.2% in the 3rd quarter. Natixis Advisors LLC now owns 23,165 shares of the technology company's stock valued at $2,663,000 after purchasing an additional 3,564 shares during the last quarter. Thrivent Financial for Lutherans purchased a new stake in CGI in the third quarter valued at approximately $209,000. Charles Schwab Investment Management Inc. lifted its stake in CGI by 4.0% in 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 buying an additional 21,427 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of CGI by 2.0% in the third quarter. Citigroup Inc. now owns 100,915 shares of the technology company's stock valued at $11,625,000 after acquiring an additional 1,970 shares during the period. Finally, Cerity Partners LLC grew its position in shares of CGI by 60.2% during the third quarter. Cerity Partners LLC now owns 7,379 shares of the technology company's stock worth $848,000 after acquiring an additional 2,772 shares during the last quarter. Institutional investors and hedge funds own 66.68% of the company's stock.
CGI Stock Performance
Shares of NYSE:GIB traded down $1.17 during midday trading on Friday, hitting $98.09. The stock had a trading volume of 164,945 shares, compared to its average volume of 182,861. CGI Inc. has a 1 year low of $96.92 and a 1 year high of $122.79. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28. The stock has a 50 day moving average price of $110.31 and a two-hundred day moving average price of $111.53. The company has a market capitalization of $22.24 billion, a PE ratio of 17.74, a P/E/G ratio of 2.58 and a beta of 0.96.
CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 earnings per share for the quarter, meeting analysts' consensus estimates of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. As a group, equities analysts predict that CGI Inc. will post 5.79 earnings per share for the current fiscal year.
CGI Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 14th were given a dividend of $0.1039 per share. The ex-dividend date was Friday, February 14th. This represents a $0.42 annualized dividend and a dividend yield of 0.42%. CGI's payout ratio is currently 7.41%.
Wall Street Analysts Forecast Growth
Several research firms recently commented on GIB. Royal Bank of Canada reiterated an "outperform" rating and issued a $192.00 price target on shares of CGI in a research report on Wednesday. UBS Group upped their target price on shares of CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Finally, Jefferies Financial Group lowered their price target on CGI from $140.00 to $135.00 and set a "buy" rating on the stock in a report on Tuesday, January 21st. Two 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 MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $156.75.
Read Our Latest Research Report on GIB
CGI Profile
(
Free Report)
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.
Further Reading
Before you consider CGI, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CGI wasn't on the list.
While CGI currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
