CGI Group, Inc. (NYSE:GIB) Stock Has Average Price Target of $83.67 According to Brokerages

Shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) have been given an average rating of “Reduce” by the seven research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $83.67.

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

Institutional Trading of CGI Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Mn Services Vermogensbeheer B.V. increased its holdings in shares of CGI Group by 14.8% in 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. Versant Capital Management Inc boosted its holdings in CGI Group by 48.0% during the third quarter. Versant Capital Management Inc now owns 2,313 shares of the technology company’s stock worth $158,000 after buying an additional 750 shares in the last quarter. Andra AP fonden purchased a new stake in CGI Group during the second quarter worth about $1,201,000. Sequoia Financial Advisors LLC boosted its holdings in CGI Group by 16.0% during the second quarter. Sequoia Financial Advisors LLC now owns 36,485 shares of the technology company’s stock worth $2,356,000 after buying an additional 5,031 shares in the last quarter. Finally, Tidal Investments LLC grew its position in CGI Group by 5.4% during the second quarter. Tidal Investments LLC now owns 14,457 shares of the technology company’s stock worth $933,000 after buying an additional 739 shares during the period. 66.68% of the stock is owned by hedge funds and other institutional investors.

CGI Group Stock Up 0.3%

Shares of NYSE GIB opened at $72.34 on Monday. The business’s 50 day moving average is $71.90 and its two-hundred day moving average is $69.65. CGI Group has a 52-week low of $59.63 and a 52-week high of $95.20. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 0.28. The firm has a market cap of $14.98 billion, a price-to-earnings ratio of 11.32 and a beta of 0.47.

CGI Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, August 14th were given 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 dividend yield of 0.9%. CGI Group’s payout ratio is 8.23%.

CGI Group Company Profile

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.