Analysts Set CGI Group, Inc. (NYSE:GIB) Price Target at $83.67

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) has been assigned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $83.6667.

Several brokerages have recently commented on GIB. Weiss Ratings reiterated a “sell (d+)” rating on shares of CGI Group in a report on Wednesday, June 24th. Royal Bank Of Canada downgraded shares of CGI Group from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $150.00 to $100.00 in a research report on Thursday, April 30th. Finally, UBS Group decreased their price objective 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.

CGI Group Stock Down 1.8%

GIB stock opened at $66.26 on Friday. The firm has a market capitalization of $14.01 billion, a PE ratio of 11.96 and a beta of 0.48. The company has a quick ratio of 0.68, a current ratio of 0.95 and a debt-to-equity ratio of 0.28. CGI Group has a twelve month low of $59.63 and a twelve month high of $103.92. The stock’s 50 day moving average is $65.91 and its 200-day moving average is $75.13.

CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings results 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 return on equity of 18.72% and a net margin of 10.26%.The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the prior year, the company posted $2.12 earnings per share. CGI Group’s revenue was up 3.3% compared to the same quarter last year. Sell-side analysts expect that CGI Group will post 6.54 EPS for the current fiscal year.

CGI Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, May 15th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, May 15th. CGI Group’s dividend payout ratio (DPR) is presently 9.03%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Strive Financial Group LLC purchased a new position in shares of CGI Group in the fourth quarter worth about $37,000. EverSource Wealth Advisors LLC raised its holdings in shares of CGI Group by 21.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,334 shares of the technology company’s stock valued at $98,000 after acquiring an additional 237 shares in the last quarter. Hughes Financial Services LLC purchased a new stake in shares of CGI Group in the 3rd quarter valued at about $174,000. Venturi Wealth Management LLC bought a new stake in shares of CGI Group during the 1st quarter valued at about $204,000. Finally, Entropy Technologies LP bought a new stake in shares of CGI Group during the 3rd quarter valued at about $236,000. Institutional investors own 66.68% of the company’s stock.

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.