Toronto Dominion Bank Sells 47,406 Shares of CGI Inc. (NYSE:GIB)

Toronto Dominion Bank reduced its stake in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 8.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 514,335 shares of the technology company's stock after selling 47,406 shares during the period. Toronto Dominion Bank owned approximately 0.23% of CGI worth $56,207,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of CGI by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 7,942,779 shares of the technology company's stock worth $869,067,000 after purchasing an additional 128,285 shares during the last quarter. Bank of Montreal Can grew its stake in CGI by 17.3% in the fourth quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company's stock valued at $419,976,000 after acquiring an additional 567,868 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of CGI by 29.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company's stock worth $327,007,000 after purchasing an additional 678,431 shares during the period. Norges Bank bought a new position in shares of CGI during the 4th quarter valued at about $286,970,000. Finally, TD Asset Management Inc. increased its position in shares of CGI by 3.5% during the fourth quarter. TD Asset Management Inc. now owns 2,383,862 shares of the technology company's stock worth $260,697,000 after acquiring an additional 81,440 shares in the last quarter. Institutional investors and hedge funds own 66.68% of the company's stock.

CGI Stock Down 0.6%

Shares of NYSE GIB traded down $0.63 during mid-day trading on Friday, reaching $106.08. 63,010 shares of the company's stock traded hands, compared to its average volume of 200,740. 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 business has a 50-day simple moving average of $103.38 and a 200 day simple moving average of $108.65. The stock has a market cap of $24.05 billion, a P/E ratio of 19.15, a PEG ratio of 2.58 and a beta of 0.78. CGI Inc. has a 1-year low of $92.85 and a 1-year high of $122.79.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last posted its earnings results on Wednesday, April 30th. The technology company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.02). CGI had a return on equity of 19.32% and a net margin of 11.72%. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the prior year, the business earned $1.97 EPS. CGI's quarterly revenue was up 7.6% compared to the same quarter last year. On average, analysts expect that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 16th will be given a $0.1086 dividend. This is an increase from CGI's previous quarterly dividend of $0.10. This represents a $0.43 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date is Friday, May 16th. CGI's dividend payout ratio (DPR) is currently 7.47%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GIB shares. UBS Group increased their price objective on CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $192.00 target price on shares of CGI in a research report on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, CGI has a consensus 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.