Brokerages Set CGI Group, Inc. (NYSE:GIB) PT at $112.00

Shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) have received an average recommendation of “Hold” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $112.00.

Several analysts have recently issued reports on the company. Weiss Ratings downgraded CGI Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 27th. Royal Bank Of Canada restated an “outperform” rating and issued a $150.00 price objective on shares of CGI Group in a research report on Wednesday, April 1st. TD Securities upgraded CGI Group to a “strong-buy” rating in a research report on Wednesday, January 28th. Finally, Scotiabank assumed coverage on CGI Group in a research report on Tuesday, January 27th. They issued a “sector perform” rating on the stock.

Institutional Trading of CGI Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Mediolanum International Funds Ltd lifted its position in 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 buying an additional 17,448 shares during the period. Kepler Cheuvreux Suisse SA purchased a new position in CGI Group during the third quarter worth about $6,498,000. Syon Capital LLC lifted its position in CGI Group by 69.7% during the third quarter. Syon Capital LLC now owns 4,260 shares of the technology company’s stock worth $380,000 after buying an additional 1,749 shares during the period. Rossby Financial LCC lifted its position 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 buying an additional 4,984 shares during the period. Finally, Ethic Inc. lifted its position in CGI Group by 13.4% during the fourth quarter. Ethic Inc. now owns 9,804 shares of the technology company’s stock worth $905,000 after buying an additional 1,158 shares during the period. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

CGI Group Stock Down 0.4%

CGI Group stock opened at $72.72 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.70 and a current ratio of 0.94. The firm has a market capitalization of $15.62 billion, a price-to-earnings ratio of 13.62 and a beta of 0.58. CGI Group has a fifty-two week low of $69.40 and a fifty-two week high of $110.07. The stock’s fifty day moving average is $73.23 and its two-hundred day moving average is $83.24.

CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, January 28th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.04). CGI Group had a net margin of 10.25% and a return on equity of 18.61%. The company had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the prior year, the company earned $1.97 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. Analysts predict that CGI Group will post 6.51 EPS for the current fiscal year.

CGI Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Wednesday, February 18th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, February 18th. CGI Group’s dividend payout ratio is currently 9.18%.

CGI Group Company Profile

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.