CGI Group, Inc. (NYSE:GIB) Receives $83.67 Consensus PT from Brokerages

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) has been assigned an average rating of “Hold” from the seven research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $83.6667.

Several analysts have issued reports on the company. UBS Group cut their price target on CGI Group from $79.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. Royal Bank Of Canada lowered CGI Group from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $150.00 to $100.00 in a report on Thursday, April 30th. Finally, Weiss Ratings lowered CGI Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 27th.

CGI Group Stock Down 1.5%

CGI Group stock opened at $65.72 on Tuesday. The stock has a market cap of $13.90 billion, a PE ratio of 11.86 and a beta of 0.47. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.68 and a current ratio of 0.95. CGI Group has a one year low of $60.80 and a one year high of $110.00. The stock has a fifty day moving average of $69.08 and a 200 day moving average of $78.22.

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

CGI Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, May 15th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, May 15th. CGI Group’s payout ratio is currently 9.03%.

Institutional Trading of CGI Group

Several hedge funds have recently bought and sold shares of the stock. Glenmede Trust Co. NA grew its holdings in CGI Group by 38.3% during the first quarter. Glenmede Trust Co. NA now owns 3,409 shares of the technology company’s stock valued at $249,000 after purchasing an additional 944 shares during the period. EverSource Wealth Advisors LLC grew its holdings in CGI Group by 21.6% during the first quarter. EverSource Wealth Advisors LLC now owns 1,334 shares of the technology company’s stock valued at $98,000 after purchasing an additional 237 shares during the period. Venturi Wealth Management LLC bought a new stake in CGI Group during the first quarter valued at about $204,000. SG Americas Securities LLC bought a new position in shares of CGI Group in the first quarter worth about $470,000. Finally, Strive Financial Group LLC bought a new position in shares of CGI Group in the fourth quarter worth about $37,000. 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.