CGI (NYSE:GIB) Given “Outperform” Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of CGI (NYSE:GIB) (TSE:GIB.A) in a report published on Wednesday,Benzinga reports. They currently have a $192.00 price target on the technology company’s stock.

A number of other research firms have also issued reports on GIB. Jefferies Financial Group lowered their price target on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. UBS Group increased their price objective on CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $156.75.

CGI Stock Performance

Shares of GIB opened at $98.09 on Wednesday. The company’s 50 day simple moving average is $110.31 and its 200-day simple moving average is $111.55. The firm has a market cap of $22.24 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96. CGI has a 12-month low of $96.92 and a 12-month high of $122.79. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28.

CGI (NYSE:GIB) (TSE:GIB.A) last issued 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 net margin of 11.72% and a return on equity of 19.32%. As a group, equities analysts predict that CGI will post 5.79 EPS for the current year.

CGI Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 14th were issued a $0.1039 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend was Friday, February 14th. CGI’s dividend payout ratio is presently 7.41%.

Hedge Funds Weigh In On CGI

Large investors have recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in CGI by 8.6% during the third quarter. Geode Capital Management LLC now owns 998,470 shares of the technology company’s stock worth $115,844,000 after acquiring an additional 79,362 shares during the period. Barclays PLC grew its stake in shares of CGI by 182.6% during the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock worth $54,808,000 after purchasing an additional 308,040 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of CGI by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 560,159 shares of the technology company’s stock valued at $64,518,000 after purchasing an additional 21,427 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of CGI by 47.6% in the fourth quarter. Blue Trust Inc. now owns 1,163 shares of the technology company’s stock valued at $134,000 after purchasing an additional 375 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in CGI by 21.1% during the third quarter. Wellington Management Group LLP now owns 96,516 shares of the technology company’s stock worth $11,118,000 after buying an additional 16,844 shares in the last quarter. 66.68% of the stock is owned by hedge funds and other 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.