CGI Inc. (NYSE:GIB) Given Consensus Rating of “Buy” by Analysts

CGI Inc. (NYSE:GIB) (TSE:GIB.A) has been assigned a consensus rating of “Buy” from the six brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $156.75.

A number of analysts have recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $192.00 price target on shares of CGI in a research note on Wednesday, March 26th. UBS Group lifted their target price on shares of CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Jefferies Financial Group dropped their price target on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st.

Institutional Investors Weigh In On CGI

Several hedge funds and other institutional investors have recently modified their holdings of GIB. Verition Fund Management LLC bought a new stake in CGI during the third quarter valued at about $307,000. Quantinno Capital Management LP grew its stake in shares of CGI by 6.6% during the 3rd quarter. Quantinno Capital Management LP now owns 16,165 shares of the technology company’s stock valued at $1,861,000 after acquiring an additional 1,001 shares during the period. Wellington Management Group LLP increased its holdings in CGI by 21.1% in the 3rd quarter. Wellington Management Group LLP now owns 96,516 shares of the technology company’s stock worth $11,118,000 after acquiring an additional 16,844 shares in the last quarter. Jane Street Group LLC raised its stake in CGI by 19.2% during the 3rd quarter. Jane Street Group LLC now owns 39,784 shares of the technology company’s stock worth $4,574,000 after acquiring an additional 6,403 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in CGI during the 3rd quarter worth approximately $5,081,000. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

CGI Stock Performance

Shares of GIB opened at $101.80 on Thursday. The company has a market cap of $23.08 billion, a price-to-earnings ratio of 18.41, a P/E/G ratio of 2.58 and a beta of 0.85. The business’s fifty day simple moving average is $107.50 and its two-hundred day simple moving average is $110.50. CGI has a 12 month low of $92.85 and a 12 month high of $122.79. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, meeting the consensus estimate of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. Research analysts anticipate that CGI will post 5.79 earnings per share for the current fiscal year.

CGI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 14th were paid a dividend of $0.1039 per share. This represents a $0.42 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Friday, February 14th. CGI’s dividend payout ratio is presently 7.41%.

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.