CGI (NYSE:GIB) Sets New 52-Week High – Should You Buy?

CGI Inc. (NYSE:GIB) (TSE:GIB.A) hit a new 52-week high on Thursday . The stock traded as high as $122.06 and last traded at $122.33, with a volume of 60249 shares changing hands. The stock had previously closed at $120.65.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GIB shares. Royal Bank of Canada restated an “outperform” rating and set a $178.00 target price on shares of CGI in a research report on Monday, January 6th. Jefferies Financial Group lowered their target price on shares of CGI from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. StockNews.com upgraded shares of CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Finally, UBS Group boosted their target price on CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $153.25.

CGI Trading Down 1.6 %

The firm has a market capitalization of $27.31 billion, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 2.62 and a beta of 0.94. The business’s fifty day moving average is $112.57 and its 200 day moving average is $112.29. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

CGI (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. Equities analysts predict that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 14th will be given a $0.1039 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date is Friday, February 14th. CGI’s dividend payout ratio is presently 8.32%.

Institutional Trading of CGI

Several institutional investors and hedge funds have recently bought and sold shares of GIB. Geode Capital Management LLC lifted its holdings in CGI by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 998,470 shares of the technology company’s stock valued at $115,844,000 after purchasing an additional 79,362 shares during the last quarter. Barclays PLC lifted its position in CGI by 182.6% during the third quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock worth $54,808,000 after purchasing an additional 308,040 shares during the period. Charles Schwab Investment Management Inc. grew its stake in CGI by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 560,159 shares of the technology company’s stock worth $64,518,000 after buying an additional 21,427 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new position in CGI in the 3rd quarter valued at about $825,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of CGI by 68.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock valued at $157,485,000 after buying an additional 555,017 shares in the last quarter. Institutional investors own 66.68% of the company’s stock.

CGI Company Profile

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.