CGI (NYSE:GIB) Sets New 12-Month High – Here’s What Happened

CGI Inc. (NYSE:GIB) (TSE:GIB.A) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $122.06 and last traded at $122.33, with a volume of 60249 shares traded. The stock had previously closed at $120.65.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GIB shares. UBS Group upped their target price on CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $178.00 price objective on shares of CGI in a research note on Monday, January 6th. StockNews.com upgraded shares of CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Finally, Jefferies Financial Group cut their price target on shares of CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $153.25.

CGI Stock Performance

The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $27.31 billion, a PE ratio of 21.78, a PEG ratio of 2.62 and a beta of 0.94. The firm’s fifty day moving average price is $112.57 and its 200 day moving average price is $112.29.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. On average, research analysts anticipate that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 14th will be issued a $0.1039 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.42 annualized dividend and a yield of 0.34%. CGI’s dividend payout ratio (DPR) is currently 8.32%.

Institutional Investors Weigh In On CGI

Several hedge funds have recently modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new stake in CGI in the 3rd quarter valued at $28,000. Sierra Ocean LLC acquired a new stake in CGI in the 4th quarter valued at $62,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in CGI in the fourth quarter valued at $83,000. Blue Trust Inc. raised its stake in CGI by 288.2% during the third quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock worth $91,000 after acquiring an additional 585 shares in the last quarter. Finally, Hoey Investments Inc. bought a new position in shares of CGI during the fourth quarter valued at $99,000. 66.68% of the stock is owned by institutional investors.

CGI Company Profile

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.