CGI Group, Inc. (NYSE:GIB) Given Average Recommendation of “Hold” by Analysts

Shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) have been given a consensus recommendation of “Hold” by the seven brokerages that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $117.00.

A number of equities analysts have commented on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of CGI Group in a report on Monday, December 29th. TD Securities upgraded CGI Group to a “strong-buy” rating in a research report on Wednesday, January 28th. Canadian Imperial Bank of Commerce cut shares of CGI Group from a “strong-buy” rating to a “hold” rating in a research note on Sunday, December 14th. Jefferies Financial Group reaffirmed a “hold” rating and set a $81.00 target price (down from $105.00) on shares of CGI Group in a report on Monday, November 10th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of CGI Group in a research note on Monday, January 5th.

CGI Group Stock Performance

GIB opened at $73.20 on Friday. The firm’s fifty day simple moving average is $85.48 and its two-hundred day simple moving average is $88.86. CGI Group has a 52-week low of $69.96 and a 52-week high of $110.64. The company has a market cap of $16.04 billion, a price-to-earnings ratio of 13.71 and a beta of 0.59. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.28.

CGI Group (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, January 28th. The technology company reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.04). The company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $4.08 billion. CGI Group had a return on equity of 18.61% and a net margin of 10.25%.The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.97 EPS. Equities analysts anticipate that CGI Group will post 5.79 earnings per share for the current fiscal year.

CGI Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Wednesday, February 18th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Wednesday, February 18th. CGI Group’s payout ratio is currently 9.36%.

Institutional Trading of CGI Group

Several large investors have recently added to or reduced their stakes in GIB. First Horizon Corp purchased a new position in shares of CGI Group during the 3rd quarter worth $29,000. Strive Financial Group LLC purchased a new stake in shares of CGI Group in the fourth quarter valued at about $37,000. Steigerwald Gordon & Koch Inc. acquired a new stake in CGI Group during the third quarter worth about $144,000. EverSource Wealth Advisors LLC raised its stake in CGI Group by 53.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,452 shares of the technology company’s stock worth $152,000 after purchasing an additional 505 shares during the period. Finally, Hughes Financial Services LLC acquired a new position in CGI Group in the 3rd quarter valued at about $174,000. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

CGI Group Company Profile

CGI Group Inc is a global information technology and business consulting firm that delivers a broad range of services including IT consulting, systems integration, application development and maintenance, infrastructure and network services, managed IT and business process outsourcing. The company works with clients to design, build and operate IT systems and business solutions, with capabilities spanning cloud and hybrid IT environments, cybersecurity, data analytics and artificial intelligence, digital transformation and enterprise resource planning implementations.

Founded in 1976 in Quebec by Serge Godin and André Imbeau, CGI has grown from a regional systems integrator into a multinational professional services organization.