TD Waterhouse Canada Inc. Grows Stake in CGI Inc. (NYSE:GIB)

TD Waterhouse Canada Inc. raised its position in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 5.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 661,479 shares of the technology company's stock after purchasing an additional 35,654 shares during the period. TD Waterhouse Canada Inc. owned 0.29% of CGI worth $72,145,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GIB. Barclays PLC raised its position in CGI by 182.6% in the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company's stock worth $54,808,000 after purchasing an additional 308,040 shares during the period. Blue Trust Inc. lifted its stake in shares of CGI by 47.6% in the 4th quarter. Blue Trust Inc. now owns 1,163 shares of the technology company's stock valued at $134,000 after acquiring an additional 375 shares during the last quarter. KFA Private Wealth Group LLC boosted its holdings in CGI by 120.9% during the 4th quarter. KFA Private Wealth Group LLC now owns 12,350 shares of the technology company's stock valued at $1,350,000 after acquiring an additional 6,760 shares during the period. Bank of New York Mellon Corp grew its position in CGI by 0.5% during the 4th quarter. Bank of New York Mellon Corp now owns 289,654 shares of the technology company's stock worth $31,665,000 after acquiring an additional 1,409 shares during the last quarter. Finally, Sierra Ocean LLC purchased a new position in CGI in the 4th quarter worth approximately $62,000. Hedge funds and other institutional investors own 66.68% of the company's stock.

CGI Stock Up 1.1 %

GIB traded up $1.15 on Thursday, hitting $105.66. The company had a trading volume of 285,630 shares, compared to its average volume of 197,721. CGI Inc. has a 52-week low of $92.85 and a 52-week high of $122.79. The stock has a fifty day simple moving average of $104.21 and a 200-day simple moving average of $109.75. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.04. The firm has a market capitalization of $23.96 billion, a P/E ratio of 19.11, a P/E/G ratio of 2.58 and a beta of 0.85.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, hitting 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 expect that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 14th were issued a $0.1039 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.42 annualized dividend and a yield of 0.39%. CGI's payout ratio is 7.41%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GIB. Jefferies Financial Group cut their target price on shares of CGI from $140.00 to $135.00 and set a "buy" rating on the stock in a report on Tuesday, January 21st. UBS Group boosted their price objective on shares of CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $192.00 target price on shares of CGI in a report on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $156.75.

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.