Toronto Dominion Bank Has $75.73 Million Holdings in CGI Inc. (NYSE:GIB)

Toronto Dominion Bank decreased its position in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 0.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 828,493 shares of the technology company’s stock after selling 6,449 shares during the period. Toronto Dominion Bank owned approximately 0.33% of CGI worth $75,733,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Marshall Wace LLP bought a new position in shares of CGI in the 1st quarter worth about $110,000. Amundi Pioneer Asset Management Inc. grew its stake in CGI by 18.7% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 218,444 shares of the technology company’s stock worth $15,020,000 after purchasing an additional 34,441 shares during the period. Dimensional Fund Advisors LP increased its holdings in CGI by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 292,538 shares of the technology company’s stock worth $23,201,000 after purchasing an additional 2,216 shares in the last quarter. Comerica Bank lifted its stake in CGI by 1.6% in the first quarter. Comerica Bank now owns 12,740 shares of the technology company’s stock valued at $1,086,000 after buying an additional 206 shares during the period. Finally, US Bancorp DE boosted its holdings in shares of CGI by 7.5% during the 1st quarter. US Bancorp DE now owns 3,749 shares of the technology company’s stock worth $312,000 after buying an additional 261 shares in the last quarter. 51.93% of the stock is currently owned by institutional investors and hedge funds.

NYSE GIB opened at $89.53 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 0.83 and a debt-to-equity ratio of 0.42. The business has a fifty day simple moving average of $90.21 and a 200 day simple moving average of $87.86. CGI Inc. has a 12 month low of $60.58 and a 12 month high of $93.06. The firm has a market capitalization of $22.20 billion, a P/E ratio of 22.96, a PEG ratio of 2.59 and a beta of 1.03.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its earnings results on Tuesday, July 27th. The technology company reported $1.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.29. CGI had a net margin of 10.61% and a return on equity of 19.58%. The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.46 billion. As a group, sell-side analysts predict that CGI Inc. will post 4.29 EPS for the current fiscal year.

Several research analysts recently issued reports on GIB shares. CIBC raised shares of CGI from a “neutral” rating to a “sector outperform” rating and set a $123.00 target price on the stock in a research note on Thursday, July 15th. National Bank Financial raised their target price on CGI from C$120.00 to C$135.00 and gave the company an “outperform” rating in a research note on Thursday, July 22nd. Zacks Investment Research raised CGI from a “sell” rating to a “hold” rating in a research report on Monday, July 26th. Raymond James raised their price objective on CGI from C$120.00 to C$129.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 29th. Finally, Scotiabank upped their target price on CGI from C$124.00 to C$130.00 and gave the stock an “outperform” rating in a research report on Thursday, July 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, CGI currently has an average rating of “Buy” and a consensus target price of $118.17.

About CGI

CGI, Inc engages in the provision of information technology (IT) and consulting services. It operates through the following segments: Northern Europe, Canada, France, U.S. Commercial and State Government, U.S. Federal, U.K., Eastern, Central and Southern Europe (ECS) and Asia Pacific Global Delivery Centers of Excellence (APC).

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Institutional Ownership by Quarter for CGI (NYSE:GIB)

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