CGI Group, Inc. (NYSE:GIB) Receives $112.00 Average PT from Analysts

Shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) have been given a consensus rating of “Hold” by the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $112.00.

GIB has been the topic of several research reports. Scotiabank initiated coverage on shares of CGI Group in a research report on Tuesday, January 27th. They issued a “sector perform” rating on the stock. Weiss Ratings lowered shares of CGI Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $150.00 price objective on shares of CGI Group in a research report on Wednesday, April 1st. Finally, TD Securities raised shares of CGI Group to a “strong-buy” rating in a research report on Wednesday, January 28th.

Institutional Trading of CGI Group

Several hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC bought a new stake in shares of CGI Group in the first quarter valued at approximately $347,000. Millennium Management LLC raised its position in shares of CGI Group by 786.2% in the first quarter. Millennium Management LLC now owns 81,470 shares of the technology company’s stock valued at $8,141,000 after purchasing an additional 72,277 shares during the period. Jane Street Group LLC raised its position in shares of CGI Group by 29.4% in the first quarter. Jane Street Group LLC now owns 12,858 shares of the technology company’s stock valued at $1,284,000 after purchasing an additional 2,921 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of CGI Group by 53.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,452 shares of the technology company’s stock valued at $152,000 after purchasing an additional 505 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of CGI Group by 14.9% in the third quarter. Farther Finance Advisors LLC now owns 11,585 shares of the technology company’s stock valued at $1,033,000 after purchasing an additional 1,499 shares during the period. Institutional investors own 66.68% of the company’s stock.

CGI Group Stock Performance

Shares of GIB stock opened at $76.45 on Monday. The firm has a market cap of $16.42 billion, a price-to-earnings ratio of 14.32 and a beta of 0.58. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.70 and a current ratio of 0.94. CGI Group has a 52 week low of $69.40 and a 52 week high of $110.07. The firm’s 50-day simple moving average is $73.31 and its two-hundred day simple moving average is $83.44.

CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, January 28th. The technology company reported $1.51 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.04). The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $4.08 billion. CGI Group had a return on equity of 18.61% and a net margin of 10.25%.The business’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.97 EPS. As a group, equities analysts forecast that CGI Group will post 6.51 earnings per share for the current year.

CGI Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Wednesday, February 18th were given a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $0.68 annualized dividend and a yield of 0.9%. CGI Group’s payout ratio is currently 9.36%.

About CGI Group

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.