CGI Group’s (GIB) Hold Rating Reaffirmed at Jefferies Financial Group

Jefferies Financial Group restated their hold rating on shares of CGI Group (NYSE:GIB) (TSE:GIB.A) in a report issued on Monday morning, Marketbeat Ratings reports. Jefferies Financial Group currently has a $81.00 target price on the technology company’s stock, down from their prior target price of $105.00.

GIB has been the subject of several other reports. TD Securities upgraded shares of CGI Group to a “strong-buy” rating in a research report on Friday, October 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of CGI Group in a research report on Wednesday, October 8th. UBS Group decreased their target price on CGI Group from $112.00 to $105.00 and set a “neutral” rating on the stock in a report on Thursday, July 31st. Finally, Royal Bank Of Canada lowered their target price on CGI Group from $175.00 to $165.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, CGI Group presently has a consensus rating of “Moderate Buy” and an average target price of $117.00.

CGI Group Stock Down 0.5%

GIB stock opened at $85.74 on Monday. The company has a market cap of $19.11 billion, a price-to-earnings ratio of 15.85, a P/E/G ratio of 1.46 and a beta of 0.71. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.27. The business’s 50-day moving average is $90.18 and its two-hundred day moving average is $98.38. CGI Group has a fifty-two week low of $84.00 and a fifty-two week high of $122.79.

CGI Group (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, November 5th. The technology company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.02. CGI Group had a return on equity of 18.53% and a net margin of 11.01%.The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $4 billion. During the same period in the previous year, the company posted $1.92 EPS. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, analysts forecast that CGI Group will post 5.79 earnings per share for the current year.

CGI Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, November 21st will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, November 21st. This is a positive change from CGI Group’s previous quarterly dividend of $0.11. CGI Group’s dividend payout ratio is currently 9.13%.

Institutional Investors Weigh In On CGI Group

Several institutional investors and hedge funds have recently modified their holdings of GIB. Principal Financial Group Inc. grew its stake in CGI Group by 0.9% during the first quarter. Principal Financial Group Inc. now owns 55,151 shares of the technology company’s stock valued at $5,505,000 after acquiring an additional 500 shares in the last quarter. Cerity Partners LLC lifted its stake in CGI Group by 129.6% in the 1st quarter. Cerity Partners LLC now owns 26,230 shares of the technology company’s stock worth $2,619,000 after purchasing an additional 14,806 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of CGI Group by 7.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,028,147 shares of the technology company’s stock valued at $202,470,000 after purchasing an additional 133,750 shares during the last quarter. Creekmur Asset Management LLC grew its position in shares of CGI Group by 7,051.9% during the first quarter. Creekmur Asset Management LLC now owns 1,931 shares of the technology company’s stock valued at $193,000 after purchasing an additional 1,904 shares in the last quarter. Finally, C WorldWide Group Holding A S grew its position in shares of CGI Group by 56.5% during the first quarter. C WorldWide Group Holding A S now owns 17,692 shares of the technology company’s stock valued at $1,766,000 after purchasing an additional 6,388 shares in the last quarter. Institutional investors own 66.68% of the company’s stock.

About CGI Group

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.