CGI Group, Inc. (NYSE:GIB) Given Consensus Rating of “Hold” by Analysts

Shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) have received a consensus rating of “Hold” from the seven analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $83.6667.

GIB has been the topic of a number of research analyst reports. Royal Bank Of Canada downgraded shares of CGI Group from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $150.00 to $100.00 in a research note on Thursday, April 30th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CGI Group in a research note on Wednesday, June 24th. Finally, UBS Group lowered 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.

Hedge Funds Weigh In On CGI Group

Institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in shares of CGI Group by 21.6% in the first quarter. EverSource Wealth Advisors LLC now owns 1,334 shares of the technology company’s stock valued at $98,000 after acquiring an additional 237 shares in the last quarter. Strive Financial Group LLC bought a new position in CGI Group during the 4th quarter worth about $37,000. Crestwood Advisors Group LLC grew its holdings in CGI Group by 14.2% during the 4th quarter. Crestwood Advisors Group LLC now owns 4,606 shares of the technology company’s stock worth $425,000 after acquiring an additional 572 shares in the last quarter. Glenmede Trust Co. NA increased its position in CGI Group by 38.3% during the 1st 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. Finally, Ethic Inc. increased its position in CGI Group by 13.4% during 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. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Group Stock Down 0.1%

Shares of GIB opened at $66.44 on Friday. The firm has a fifty day moving average price of $66.29 and a 200-day moving average price of $75.77. The company has a current ratio of 0.95, a quick ratio of 0.68 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $14.05 billion, a P/E ratio of 11.99 and a beta of 0.48. CGI Group has a 12-month low of $59.63 and a 12-month high of $106.45.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.65 EPS for the quarter, hitting the consensus estimate of $1.65. CGI Group had a net margin of 10.26% and a return on equity of 18.72%. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter last year, the firm posted $2.12 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts expect that CGI Group will post 6.54 earnings per share for the current year.

CGI Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Friday, May 15th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, May 15th. CGI Group’s dividend payout ratio is currently 9.03%.

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.