CGI Inc. (NYSE:GIB) Receives Consensus Rating of “Buy” from Analysts

Shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) have been given an average recommendation of “Buy” by the five brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $137.00.

A number of analysts have recently issued reports on GIB shares. UBS Group initiated coverage on CGI in a research report on Friday, July 19th. They issued a “neutral” rating and a $112.00 price objective for the company. Jefferies Financial Group lifted their price objective on shares of CGI from $120.00 to $121.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Sanford C. Bernstein upgraded shares of CGI to a “strong-buy” rating in a report on Thursday, August 1st. CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and raised their target price for the stock from $155.00 to $178.00 in a research note on Tuesday, October 15th. Finally, Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th.

CGI Trading Down 1.2 %

Shares of NYSE:GIB opened at $111.15 on Monday. CGI has a 52-week low of $96.92 and a 52-week high of $118.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.16. The company has a market capitalization of $25.33 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 2.39 and a beta of 0.96. The company has a 50-day simple moving average of $113.97 and a 200 day simple moving average of $107.66.

CGI Announces Dividend

The company also recently announced a — dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.111 per share. This represents a dividend yield of 0.4%. The ex-dividend date is Wednesday, November 20th.

Hedge Funds Weigh In On CGI

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in CGI by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 7,603,481 shares of the technology company’s stock worth $840,109,000 after acquiring an additional 64,037 shares during the period. Fiera Capital Corp increased its position in shares of CGI by 2.7% in the third quarter. Fiera Capital Corp now owns 4,384,639 shares of the technology company’s stock worth $505,173,000 after purchasing an additional 114,864 shares during the period. TD Asset Management Inc raised its stake in CGI by 2.0% in the second quarter. TD Asset Management Inc now owns 2,203,320 shares of the technology company’s stock valued at $219,873,000 after purchasing an additional 43,355 shares in the last quarter. Cibc World Market Inc. lifted its position in CGI by 6.2% during the second quarter. Cibc World Market Inc. now owns 1,803,131 shares of the technology company’s stock worth $180,025,000 after purchasing an additional 105,817 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in CGI by 68.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock worth $157,485,000 after purchasing an additional 555,017 shares during the period. 66.68% of the stock is currently owned by institutional investors and hedge funds.

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.