CGI Group, Inc. (NYSE:GIB) Given Consensus Rating of “Hold” by Brokerages

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) has earned an average rating of “Hold” from the seven research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $83.6667.

A number of equities research analysts have weighed in on GIB shares. Scotiabank started coverage on CGI Group in a report on Tuesday, January 27th. They set a “sector perform” rating on the stock. Weiss Ratings downgraded shares of CGI Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 27th. UBS Group reduced their target price on shares of CGI Group from $79.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. TD Securities upgraded shares of CGI Group to a “strong-buy” rating in a research note on Wednesday, January 28th. Finally, Royal Bank Of Canada downgraded shares of CGI Group from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $150.00 to $100.00 in a research note on Thursday, April 30th.

CGI Group Stock Up 0.4%

NYSE GIB opened at $62.26 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.68 and a debt-to-equity ratio of 0.28. The stock’s 50 day moving average is $71.75 and its two-hundred day moving average is $81.33. The company has a market capitalization of $13.37 billion, a price-to-earnings ratio of 11.24 and a beta of 0.45. CGI Group has a 1-year low of $60.80 and a 1-year high of $110.07.

CGI Group (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.65 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.65. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.05 billion. CGI Group had a return on equity of 18.72% and a net margin of 10.26%.The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.12 earnings per share. Equities analysts forecast that CGI Group will post 6.54 earnings per share for the current fiscal year.

CGI Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Friday, May 15th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, May 15th. CGI Group’s payout ratio is currently 9.03%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Mediolanum International Funds Ltd boosted its holdings in shares of CGI Group by 35.1% in the 3rd quarter. Mediolanum International Funds Ltd now owns 67,190 shares of the technology company’s stock worth $5,972,000 after acquiring an additional 17,448 shares in the last quarter. Kepler Cheuvreux Suisse SA acquired a new position in shares of CGI Group in the 3rd quarter worth approximately $6,498,000. Rossby Financial LCC boosted its holdings in shares of CGI Group by 49,840.0% in the 3rd quarter. Rossby Financial LCC now owns 4,994 shares of the technology company’s stock worth $449,000 after acquiring an additional 4,984 shares in the last quarter. First Horizon Corp acquired a new position in shares of CGI Group in the 3rd quarter worth approximately $29,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of CGI Group by 53.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,452 shares of the technology company’s stock worth $152,000 after acquiring an additional 505 shares in the last quarter. 66.68% of the stock is owned by institutional investors and hedge funds.

CGI Group Company Profile

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.