Brokerages Set CGI Group, Inc. (NYSE:GIB) PT at $117.00

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) has received an average rating of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $117.00.

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

CGI Group Stock Performance

GIB opened at $71.04 on Thursday. The business’s 50 day moving average is $77.41 and its 200-day moving average is $85.67. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.28. CGI Group has a twelve month low of $69.96 and a twelve month high of $110.07. The stock has a market cap of $15.26 billion, a PE ratio of 13.30 and a beta of 0.63.

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, analysts predict that CGI Group will post 5.79 earnings per share for the current year.

CGI Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Wednesday, February 18th were paid a $0.17 dividend. The ex-dividend date was Wednesday, February 18th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.0%. CGI Group’s dividend payout ratio (DPR) is 9.18%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Mediolanum International Funds Ltd raised its position in shares of CGI Group by 35.1% during the third quarter. Mediolanum International Funds Ltd now owns 67,190 shares of the technology company’s stock worth $5,972,000 after acquiring an additional 17,448 shares during the last quarter. Kepler Cheuvreux Suisse SA acquired a new stake in shares of CGI Group in the 3rd quarter valued at approximately $6,498,000. Beutel Goodman & Co Ltd. boosted its position in shares of CGI Group by 13.0% during the second quarter. Beutel Goodman & Co Ltd. now owns 3,452,820 shares of the technology company’s stock worth $361,881,000 after purchasing an additional 397,005 shares in the last quarter. Rossby Financial LCC lifted its holdings in CGI Group by 49,840.0% during the third quarter. Rossby Financial LCC now owns 4,994 shares of the technology company’s stock worth $449,000 after acquiring an additional 4,984 shares in the last quarter. Finally, Syon Capital LLC grew its position in shares of CGI Group by 69.7% in the 3rd quarter. Syon Capital LLC now owns 4,260 shares of the technology company’s stock valued at $380,000 after purchasing an additional 1,749 shares during the period. Institutional investors 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.