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

Shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) have been assigned a consensus rating of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $83.6667.

Several analysts recently issued reports on GIB shares. TD Securities downgraded CGI Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Weiss Ratings raised CGI Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday.

Institutional Trading of CGI Group

A number of institutional investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC increased its holdings in shares of CGI Group by 16.0% during the second quarter. Sequoia Financial Advisors LLC now owns 36,485 shares of the technology company’s stock worth $2,356,000 after purchasing an additional 5,031 shares during the period. Tidal Investments LLC boosted its stake in shares of CGI Group by 5.4% in the second quarter. Tidal Investments LLC now owns 14,457 shares of the technology company’s stock valued at $933,000 after buying an additional 739 shares during the period. Nykredit A S bought a new stake in shares of CGI Group in the second quarter valued at approximately $2,317,000. Groupe la Francaise grew its position in CGI Group by 0.9% during the second quarter. Groupe la Francaise now owns 1,722,751 shares of the technology company’s stock worth $111,335,000 after buying an additional 14,845 shares in the last quarter. Finally, Hudson Portfolio Management LLC acquired a new stake in CGI Group during the second quarter worth approximately $1,108,000. Institutional investors own 66.68% of the company’s stock.

CGI Group Stock Up 0.1%

CGI Group stock opened at $69.44 on Thursday. The stock has a market cap of $14.38 billion, a P/E ratio of 11.91 and a beta of 0.47. The company has a quick ratio of 0.66, a current ratio of 0.93 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 $95.20. The company’s 50-day moving average price is $71.84 and its two-hundred day moving average price is $70.06.

CGI Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, August 14th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, August 14th. CGI Group’s dividend payout ratio (DPR) is currently 8.23%.

About CGI Group

CGI Group Inc, also known as CGI, is a global information technology and business consulting company. It provides consulting, systems integration, application development and maintenance, managed IT services, and business process services to organizations in the public and private sectors.

The company helps clients with digital transformation, cloud computing, cybersecurity, enterprise resource planning, data and analytics, and modernization of legacy systems. CGI also develops and supports industry-specific software and technology solutions for areas such as government, financial services, telecommunications, healthcare, manufacturing, utilities, and transportation.

CGI was founded in 1976 in Montreal, Quebec, by Serge Godin and André Imbeau.