Brokerages Set CGI Inc. (NYSE:GIB) Price Target at $156.75

Shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) have been given an average recommendation of “Buy” by the five brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $156.75.

A number of research analysts recently weighed in on GIB shares. Jefferies Financial Group dropped their price objective 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 upped their price target on shares of CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $192.00 price objective on shares of CGI in a research note on Wednesday, March 26th.

CGI Stock Down 0.3 %

Shares of NYSE:GIB opened at $105.87 on Monday. The company has a market cap of $24.00 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 2.58 and a beta of 0.78. CGI has a fifty-two week low of $92.85 and a fifty-two week high of $122.79. The firm’s 50-day simple moving average is $102.65 and its 200-day simple moving average is $108.98. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.02). The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $4.05 billion. CGI had a net margin of 11.72% and a return on equity of 19.32%. CGI’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.97 EPS. As a group, equities research analysts predict that CGI will post 5.79 earnings per share for the current year.

CGI Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 16th will be given a $0.1086 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.41%. This is a boost from CGI’s previous quarterly dividend of $0.10. CGI’s dividend payout ratio (DPR) is currently 7.47%.

Institutional Investors Weigh In On CGI

Institutional investors and hedge funds have recently made changes to their positions in the business. Deutsche Bank AG raised its position in CGI by 5.7% during the first quarter. Deutsche Bank AG now owns 463,594 shares of the technology company’s stock worth $46,281,000 after acquiring an additional 24,980 shares during the last quarter. ASR Vermogensbeheer N.V. purchased a new position in shares of CGI during the 1st quarter worth approximately $5,421,000. Vanguard Group Inc. raised its position in shares of CGI by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 8,037,045 shares of the technology company’s stock worth $802,338,000 after purchasing an additional 94,266 shares during the last quarter. Scotia Capital Inc. lifted its stake in CGI by 7.6% in the 1st quarter. Scotia Capital Inc. now owns 600,989 shares of the technology company’s stock valued at $59,878,000 after buying an additional 42,311 shares in the last quarter. Finally, Cumberland Partners Ltd grew its holdings in CGI by 27.1% during the 1st quarter. Cumberland Partners Ltd now owns 2,810 shares of the technology company’s stock valued at $280,000 after buying an additional 600 shares during the last quarter. 66.68% of the stock is currently 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.