CGI Group, Inc. (NYSE:GIB) Receives Average Recommendation of “Hold” from Analysts

Shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) have earned an average rating of “Hold” from the seven analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $83.6667.

Several equities research analysts recently issued reports on the stock. Weiss Ratings cut 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 lowered shares of CGI Group from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $150.00 to $100.00 in a research note on Thursday, April 30th. Finally, UBS Group lowered their target price on shares of CGI Group from $79.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Millennium Management LLC boosted its stake in CGI Group by 786.2% during the first quarter. Millennium Management LLC now owns 81,470 shares of the technology company’s stock worth $8,141,000 after buying an additional 72,277 shares during the period. Kepler Cheuvreux Suisse SA boosted its stake in CGI Group by 7.5% during the fourth quarter. Kepler Cheuvreux Suisse SA now owns 78,358 shares of the technology company’s stock worth $7,232,000 after buying an additional 5,457 shares during the period. Davis Rea LTD. boosted its stake in CGI Group by 15.9% during the fourth quarter. Davis Rea LTD. now owns 42,200 shares of the technology company’s stock worth $3,900,000 after buying an additional 5,779 shares during the period. Jane Street Group LLC boosted its stake 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. Finally, Danske Bank A S boosted its stake in shares of CGI Group by 24.1% in the fourth quarter. Danske Bank A S now owns 10,834 shares of the technology company’s stock valued at $1,002,000 after purchasing an additional 2,103 shares during the period. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Group Price Performance

CGI Group stock opened at $66.63 on Tuesday. CGI Group has a 12-month low of $60.80 and a 12-month high of $110.01. The stock has a market cap of $14.09 billion, a P/E ratio of 12.03 and a beta of 0.47. The company has a 50-day moving average price of $69.25 and a 200 day moving average price of $78.45. The company has a current ratio of 0.95, a quick ratio of 0.68 and a debt-to-equity ratio of 0.28.

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 (EPS) for the quarter, hitting the consensus estimate of $1.65. CGI Group had a net margin of 10.26% and a return on equity of 18.72%. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period last year, the business earned $2.12 earnings per share. CGI Group’s revenue was up 3.3% compared to the same quarter last year. Sell-side analysts anticipate that CGI Group will post 6.54 earnings per share for the current year.

CGI Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, May 15th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, May 15th. CGI Group’s dividend payout ratio (DPR) is 9.03%.

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.