CGI Group, Inc. (NYSE:GIB) Stock Rated “Reduce” by Sell-Side Analysts

Shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) have been assigned a consensus recommendation of “Reduce” from the seven analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $83.67.

A number of equities research analysts have weighed in on the stock. Royal Bank Of Canada reiterated a “sector perform” rating and set a $100.00 price target on shares of CGI Group in a research note on Tuesday, October 6th. Weiss Ratings lowered shares of CGI Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, October 6th. Finally, TD Securities cut shares of CGI Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 23rd.

Institutional Investors Weigh In On CGI Group

Institutional investors have recently added to or reduced their stakes in the stock. Groupe la Francaise boosted its stake in shares of CGI Group by 0.9% in the 2nd quarter. Groupe la Francaise now owns 1,722,751 shares of the technology company’s stock valued at $111,335,000 after purchasing an additional 14,845 shares in the last quarter. QV Investors Inc. grew its position in CGI Group by 31.2% during the 2nd quarter. QV Investors Inc. now owns 908,728 shares of the technology company’s stock worth $58,716,000 after acquiring an additional 216,086 shares during the last quarter. Wellington Management Group LLP grew its position in CGI Group by 60.4% during the 2nd quarter. Wellington Management Group LLP now owns 213,433 shares of the technology company’s stock worth $13,791,000 after acquiring an additional 80,368 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in CGI Group by 14.8% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 58,052 shares of the technology company’s stock valued at $3,956,000 after purchasing an additional 7,500 shares in the last quarter. Finally, Nykredit A S acquired a new stake in CGI Group during the 2nd quarter valued at $2,918,000. 66.68% of the stock is owned by institutional investors and hedge funds.

CGI Group Trading Up 0.6%

CGI Group stock opened at $75.31 on Monday. CGI Group has a 52 week low of $59.63 and a 52 week high of $95.20. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.66 and a current ratio of 0.93. The firm has a market capitalization of $15.60 billion, a PE ratio of 11.75 and a beta of 0.47. The business’s 50-day simple moving average is $71.93 and its 200-day simple moving average is $69.72.

CGI Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, August 14th were paid a dividend of C$0.17 per share. The ex-dividend date was Friday, August 14th. This represents a $0.68 dividend on an annualized basis and a yield of 0.9%. CGI Group’s dividend payout ratio (DPR) is currently 8.23%.

About CGI Group

CGI Inc, formerly known as CGI Group Inc, is a Canadian information technology and business consulting services company headquartered in Montreal, Quebec. Founded in 1976 by Serge Godin and André Imbeau, the company has grown into a global provider of technology and business solutions for commercial and government clients.

CGI’s services include IT and business consulting, systems integration, application development and maintenance, managed IT services, cybersecurity, cloud computing, and business process services.