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

Shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) have earned a consensus rating of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $117.00.

GIB has been the topic of several recent research reports. Scotiabank started coverage on shares of CGI Group in a research report on Tuesday, January 27th. They set a “sector perform” rating on the stock. TD Securities upgraded shares of CGI Group to a “strong-buy” rating in a research note on Wednesday, January 28th. Royal Bank Of Canada reiterated an “outperform” rating on shares of CGI Group in a research report on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CGI Group in a research note on Monday, December 29th. Finally, Canadian Imperial Bank of Commerce lowered CGI Group from a “strong-buy” rating to a “hold” rating in a research note on Sunday, December 14th.

CGI Group Stock Up 0.6%

NYSE GIB opened at $72.31 on Thursday. The firm has a 50-day simple moving average of $78.22 and a 200 day simple moving average of $86.01. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.70 and a current ratio of 0.94. The stock has a market cap of $15.53 billion, a PE ratio of 13.54 and a beta of 0.63. CGI Group has a twelve month low of $69.96 and a twelve month high of $110.07.

CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, January 28th. The technology company reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.04). The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $4.08 billion. CGI Group had a return on equity of 18.61% and a net margin of 10.25%.CGI Group’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.97 EPS. On average, research analysts forecast that CGI Group will post 5.79 EPS for the current year.

CGI Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Wednesday, February 18th were paid 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 of this dividend was Wednesday, February 18th. CGI Group’s dividend payout ratio is 9.18%.

Hedge Funds Weigh In On CGI Group

Large investors have recently made changes to their positions in the company. First Horizon Corp acquired a new stake in CGI Group in the third quarter worth about $29,000. Strive Financial Group LLC bought a new stake in CGI Group during the 4th quarter worth about $37,000. EverSource Wealth Advisors LLC lifted its position in CGI Group by 53.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,452 shares of the technology company’s stock valued at $152,000 after purchasing an additional 505 shares during the period. Crestwood Advisors Group LLC lifted its holdings in CGI Group by 14.2% in the fourth quarter. Crestwood Advisors Group LLC now owns 4,606 shares of the technology company’s stock valued at $425,000 after buying an additional 572 shares during the period. Finally, Ethic Inc. lifted its stake in shares of CGI Group by 13.4% in the 4th quarter. Ethic Inc. now owns 9,804 shares of the technology company’s stock valued at $905,000 after purchasing an additional 1,158 shares during the period. Institutional investors and hedge funds own 66.68% of the company’s stock.

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.