Toronto Dominion Bank Has $64.58 Million Stake in CGI Inc. (NYSE:GIB)

Toronto Dominion Bank grew its position in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 23.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 561,741 shares of the technology company's stock after buying an additional 108,428 shares during the quarter. Toronto Dominion Bank owned approximately 0.25% of CGI worth $64,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in GIB. Crestwood Advisors Group LLC boosted its holdings in CGI by 2.4% in the 3rd quarter. Crestwood Advisors Group LLC now owns 4,222 shares of the technology company's stock valued at $485,000 after purchasing an additional 97 shares during the period. West Family Investments Inc. grew its position in CGI by 5.5% during the third quarter. West Family Investments Inc. now owns 2,323 shares of the technology company's stock worth $267,000 after buying an additional 121 shares in the last quarter. Cigna Investments Inc. New increased its stake in CGI by 3.8% during the second quarter. Cigna Investments Inc. New now owns 3,948 shares of the technology company's stock valued at $394,000 after acquiring an additional 146 shares during the period. EverSource Wealth Advisors LLC raised its holdings in CGI by 9.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company's stock valued at $205,000 after acquiring an additional 173 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of CGI by 14.8% during the 3rd quarter. CWM LLC now owns 1,365 shares of the technology company's stock worth $157,000 after purchasing an additional 176 shares in the last quarter. Institutional investors own 66.68% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on GIB shares. StockNews.com upgraded shares of CGI from a "sell" rating to a "hold" rating in a research report on Friday, November 15th. Cibc World Mkts upgraded CGI from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 15th. Finally, 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. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $137.00.

CGI Price Performance

Shares of CGI stock traded up $0.52 during midday trading on Wednesday, reaching $114.67. The company had a trading volume of 85,344 shares, compared to its average volume of 150,136. The stock has a fifty day simple moving average of $112.97 and a 200 day simple moving average of $109.00. CGI Inc. has a 1-year low of $96.92 and a 1-year high of $118.89. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $26.13 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 2.55 and a beta of 0.94.

CGI Announces Dividend

The firm also recently announced a -- dividend, which will be paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.111 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a yield of 0.4%. CGI's payout ratio is presently 8.18%.

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.