CGI Group (NYSE:GIB) Lowered to Hold Rating by TD Securities

TD Securities cut shares of CGI Group (NYSE:GIB) (TSE:GIB.A) from a buy rating to a hold rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports.

GIB has been the topic of several other reports. Weiss Ratings reissued a “sell (d+)” rating on shares of CGI Group in a research report on Wednesday, June 24th. Royal Bank Of Canada lowered CGI Group from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $150.00 to $100.00 in a report on Thursday, April 30th. Finally, UBS Group dropped their price target on CGI Group from $79.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Six research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $83.67.

CGI Group Trading Down 2.9%

NYSE:GIB opened at $63.74 on Thursday. The company has a market capitalization of $13.48 billion, a PE ratio of 11.51 and a beta of 0.48. CGI Group has a 52-week low of $59.63 and a 52-week high of $103.04. The stock’s 50 day moving average price is $66.04 and its 200 day moving average price is $73.09. The company has a quick ratio of 0.68, a current ratio of 0.95 and a debt-to-equity ratio of 0.28.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.65 earnings per share for the quarter, meeting the consensus estimate of $1.65. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.05 billion. CGI Group had a return on equity of 18.72% and a net margin of 10.26%.The company’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.12 earnings per share. On average, research analysts anticipate that CGI Group will post 6.54 EPS for the current year.

CGI Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, May 15th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, May 15th. CGI Group’s payout ratio is 9.03%.

Institutional Investors Weigh In On CGI Group

Hedge funds have recently added to or reduced their stakes in the company. Strive Financial Group LLC purchased a new stake in CGI Group in the 4th quarter valued at approximately $37,000. EverSource Wealth Advisors LLC raised its stake in shares of CGI Group by 21.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,334 shares of the technology company’s stock worth $98,000 after buying an additional 237 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of CGI Group in the 1st quarter valued at approximately $204,000. Entropy Technologies LP acquired a new stake in shares of CGI Group in the 3rd quarter valued at approximately $236,000. Finally, Glenmede Trust Co. NA boosted its stake in shares of CGI Group by 38.3% in the first quarter. Glenmede Trust Co. NA now owns 3,409 shares of the technology company’s stock valued at $249,000 after buying an additional 944 shares in the last quarter. Institutional investors and hedge funds own 66.68% of the company’s stock.

About CGI Group

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.