Brokerages Set CGI Group, Inc. (NYSE:GIB) PT at $117.00

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) has been given a consensus rating of “Hold” by the seven brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $117.00.

Several research analysts have recently commented on GIB shares. TD Securities raised shares of CGI Group to a “strong-buy” rating in a report on Wednesday, January 28th. Scotiabank began coverage on CGI Group in a research report on Tuesday, January 27th. They set a “sector perform” rating on the stock. Canadian Imperial Bank of Commerce lowered CGI Group from a “strong-buy” rating to a “hold” rating in a research note on Sunday, December 14th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of CGI Group in a report on Monday, January 5th. Finally, Weiss Ratings downgraded CGI Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 27th.

Institutional Investors Weigh In On CGI Group

Several institutional investors and hedge funds have recently bought and sold shares of GIB. AQR Capital Management LLC acquired a new position in shares of CGI Group in the 1st quarter valued at approximately $347,000. Millennium Management LLC boosted its position in shares of CGI Group by 786.2% during the 1st quarter. Millennium Management LLC now owns 81,470 shares of the technology company’s stock worth $8,141,000 after acquiring an additional 72,277 shares in the last quarter. Jane Street Group LLC boosted its position in shares of CGI Group by 29.4% during the 1st quarter. Jane Street Group LLC now owns 12,858 shares of the technology company’s stock worth $1,284,000 after acquiring an additional 2,921 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in CGI Group by 53.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,452 shares of the technology company’s stock valued at $152,000 after acquiring an additional 505 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. increased its stake in CGI Group by 13.0% in the second quarter. Beutel Goodman & Co Ltd. now owns 3,452,820 shares of the technology company’s stock valued at $361,881,000 after acquiring an additional 397,005 shares during the last quarter. Institutional investors own 66.68% of the company’s stock.

CGI Group Trading Down 1.2%

GIB stock opened at $72.25 on Thursday. CGI Group has a 52 week low of $69.96 and a 52 week high of $110.07. The company has a market capitalization of $15.52 billion, a PE ratio of 13.53 and a beta of 0.58. The company’s 50-day simple moving average is $76.42 and its 200 day simple moving average is $85.23. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.70 and a current ratio of 0.94.

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 for the quarter, missing the consensus estimate of $1.55 by ($0.04). The business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $4.08 billion. CGI Group had a return on equity of 18.61% and a net margin of 10.25%.CGI Group’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.97 EPS. As a group, sell-side analysts anticipate that CGI Group will post 5.79 earnings per share for the current year.

CGI Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Wednesday, February 18th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, February 18th. CGI Group’s payout ratio is 9.36%.

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.