CGI Group (NYSE:GIB) Cut to “Hold” at TD Securities

TD Securities cut shares of CGI Group (NYSE:GIB) (TSE:GIB.A) from a buy rating to a hold rating in a research note published on Thursday, MarketBeat.com reports.

GIB has been the topic of a number of other research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of CGI Group in a report on Wednesday, June 24th. UBS Group reduced their target price on CGI Group from $79.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. Finally, Royal Bank Of Canada downgraded CGI Group from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $150.00 to $100.00 in a report on Thursday, April 30th. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $83.67.

CGI Group Trading Up 4.1%

CGI Group stock opened at $66.43 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.95 and a quick ratio of 0.68. The company has a market capitalization of $14.05 billion, a price-to-earnings ratio of 11.99 and a beta of 0.48. CGI Group has a one year low of $59.63 and a one year high of $103.04. The company’s fifty day moving average price is $66.10 and its two-hundred day moving average price is $73.04.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its earnings results on Wednesday, April 29th. The technology company reported $1.65 earnings per share for the quarter, meeting the consensus estimate 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 for the quarter, compared to analyst estimates of $3.05 billion. During the same period last year, the company earned $2.12 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. On average, analysts forecast that CGI Group will post 6.54 earnings per share for the current fiscal year.

CGI Group Announces Dividend

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

Institutional Investors Weigh In On CGI Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Strive Financial Group LLC acquired a new position in shares of CGI Group during the 4th quarter worth about $37,000. EverSource Wealth Advisors LLC boosted its stake in CGI Group by 21.6% during the 1st 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 acquired a new stake in CGI Group in the 1st quarter valued at approximately $204,000. Entropy Technologies LP acquired a new stake in CGI Group in the 3rd quarter valued at approximately $236,000. Finally, Glenmede Trust Co. NA increased its position in CGI Group by 38.3% in the 1st quarter. Glenmede Trust Co. NA now owns 3,409 shares of the technology company’s stock worth $249,000 after buying an additional 944 shares during the period. 66.68% of the stock is owned by institutional investors and hedge funds.

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.