CGI Inc. (NYSE:GIB) Given Consensus Recommendation of “Buy” by Analysts

CGI Inc. (NYSE:GIB) (TSE:GIB.A) has received a consensus recommendation of “Buy” from the five research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, two have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $137.00.

Several equities analysts recently issued reports on the stock. StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a report on Friday. CIBC raised CGI from a “neutral” rating to an “outperformer” rating and boosted their price target for the stock from $155.00 to $178.00 in a research report on Tuesday, October 15th. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. UBS Group began coverage on CGI in a research note on Friday, July 19th. They issued a “neutral” rating and a $112.00 target price on the stock. Finally, Sanford C. Bernstein upgraded shares of CGI to a “strong-buy” rating in a report on Thursday, August 1st.

Hedge Funds Weigh In On CGI

Several hedge funds have recently modified their holdings of GIB. Blue Trust Inc. grew its position in CGI by 288.2% during the 3rd quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock worth $91,000 after purchasing an additional 585 shares during the last quarter. CWM LLC grew its holdings in shares of CGI by 14.8% during the third quarter. CWM LLC now owns 1,365 shares of the technology company’s stock valued at $157,000 after buying an additional 176 shares during the last quarter. Werba Rubin Papier Wealth Management purchased a new stake in shares of CGI during the third quarter valued at $208,000. Thrivent Financial for Lutherans acquired a new position in shares of CGI in the 3rd quarter valued at $209,000. Finally, Atria Investments Inc purchased a new position in CGI in the 3rd quarter worth $218,000. Institutional investors and hedge funds own 66.68% of the company’s stock.

CGI Stock Up 0.3 %

Shares of CGI stock opened at $107.45 on Monday. CGI has a 1 year low of $96.92 and a 1 year high of $118.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.02. The stock has a market cap of $24.49 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 2.37 and a beta of 0.96. The firm’s 50-day moving average is $113.83 and its two-hundred day moving average is $107.83.

CGI Announces Dividend

The firm also recently announced a — dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.111 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a yield of 0.4%.

About CGI

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.