CGI (NYSE:GIB) Reaches New 1-Year Low – What’s Next?

CGI Inc. (NYSE:GIB) (TSE:GIB.A)’s share price hit a new 52-week low on Monday . The stock traded as low as $92.85 and last traded at $93.82, with a volume of 48423 shares trading hands. The stock had previously closed at $96.47.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GIB shares. Jefferies Financial Group lowered their price target on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $192.00 price target on shares of CGI in a report on Wednesday, March 26th. Finally, UBS Group upped their price target on shares of CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, CGI presently has a consensus rating of “Buy” and a consensus target price of $156.75.

CGI Stock Performance

The firm has a fifty day moving average price of $109.23 and a 200 day moving average price of $110.98. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28. The firm has a market cap of $22.05 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 2.58 and a beta of 0.85.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share for the quarter, meeting the consensus estimate of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. As a group, equities research analysts expect that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 14th were issued a $0.1039 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.42 annualized dividend and a yield of 0.43%. CGI’s dividend payout ratio (DPR) is presently 7.41%.

Institutional Investors Weigh In On CGI

Several institutional investors and hedge funds have recently modified their holdings of GIB. Wilmington Savings Fund Society FSB acquired a new stake in shares of CGI during the third quarter worth about $28,000. Sierra Ocean LLC purchased a new position in CGI in the 4th quarter valued at approximately $62,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of CGI in the fourth quarter worth $83,000. Hoey Investments Inc. purchased a new stake in shares of CGI during the fourth quarter worth $99,000. Finally, Versant Capital Management Inc grew its stake in CGI by 371.7% during the 1st quarter. Versant Capital Management Inc now owns 1,052 shares of the technology company’s stock worth $105,000 after purchasing an additional 829 shares in the last quarter. Hedge funds and other institutional investors own 66.68% of the company’s stock.

About CGI

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.