TD Asset Management Inc. Makes New $240.25 Million Investment in CGI Inc (NYSE:GIB)

TD Asset Management Inc. acquired a new position in CGI Inc (NYSE:GIB) (TSE:GIB.A) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,118,892 shares of the technology company’s stock, valued at approximately $240,254,000. TD Asset Management Inc. owned about 1.14% of CGI as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Marshall Wace North America L.P. bought a new stake in CGI during the 1st quarter valued at approximately $3,129,000. Csenge Advisory Group boosted its holdings in shares of CGI by 9.7% during the first quarter. Csenge Advisory Group now owns 3,713 shares of the technology company’s stock valued at $255,000 after acquiring an additional 327 shares during the period. Henry James International Management Inc. boosted its holdings in shares of CGI by 53.6% during the first quarter. Henry James International Management Inc. now owns 106,127 shares of the technology company’s stock valued at $7,297,000 after acquiring an additional 37,047 shares during the period. Bartlett & Co. LLC acquired a new position in shares of CGI during the first quarter valued at $56,000. Finally, Quadrant Capital Group LLC boosted its holdings in shares of CGI by 52.8% during the first quarter. Quadrant Capital Group LLC now owns 5,041 shares of the technology company’s stock valued at $340,000 after acquiring an additional 1,741 shares during the period. 58.05% of the stock is owned by hedge funds and other institutional investors.

Shares of GIB traded up $0.72 during mid-day trading on Tuesday, hitting $77.05. The company’s stock had a trading volume of 12,418 shares, compared to its average volume of 151,182. CGI Inc has a one year low of $57.35 and a one year high of $80.50. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.09 and a quick ratio of 0.75. The firm has a market capitalization of $20.99 billion, a price-to-earnings ratio of 24.11, a PEG ratio of 2.30 and a beta of 0.54. The business has a 50-day moving average of $77.76.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.01). CGI had a net margin of 10.32% and a return on equity of 18.78%. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the prior year, the company posted $1.08 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. Research analysts expect that CGI Inc will post 3.56 earnings per share for the current fiscal year.

GIB has been the subject of a number of research analyst reports. CIBC downgraded shares of CGI from a “sector outperform” rating to a “neutral” rating in a report on Thursday, April 25th. Zacks Investment Research downgraded CGI from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. National Bank Financial restated a “buy” rating on shares of CGI in a report on Wednesday, July 31st. Bank of America began coverage on CGI in a report on Thursday, May 23rd. They issued a “buy” rating and a $83.00 price objective on the stock. Finally, Societe Generale downgraded CGI from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. CGI presently has a consensus rating of “Buy” and an average target price of $87.67.

CGI Company Profile

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.

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Institutional Ownership by Quarter for CGI (NYSE:GIB)

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