CGI Inc. (NYSE:GIB) Given Consensus Rating of “Buy” by Brokerages

CGI Inc. (NYSE:GIB) (TSE:GIB.A) has been assigned a consensus rating of “Buy” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, three have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $153.25.

Several equities research analysts have weighed in on the stock. Jefferies Financial Group cut their target price on shares of CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $178.00 price objective on shares of CGI in a report on Monday, January 6th. Finally, UBS Group increased their target price on CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd.

CGI Price Performance

Shares of GIB stock opened at $112.58 on Wednesday. CGI has a 52 week low of $96.92 and a 52 week high of $122.79. The stock has a market capitalization of $25.52 billion, a PE ratio of 20.36, a PEG ratio of 2.58 and a beta of 0.94. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31. The stock’s fifty day moving average is $112.99 and its 200-day moving average is $112.66.

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, meeting analysts’ consensus estimates of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. Equities research analysts expect that CGI will post 5.79 EPS for the current fiscal year.

CGI Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 14th will be issued a dividend of $0.1039 per share. The ex-dividend date is Friday, February 14th. This represents a $0.42 annualized dividend and a yield of 0.37%. CGI’s payout ratio is currently 7.41%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in shares of CGI during the third quarter worth approximately $28,000. Sierra Ocean LLC acquired a new stake in CGI during the fourth quarter worth approximately $62,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in CGI during the 4th quarter worth $83,000. Blue Trust Inc. raised its holdings in CGI by 288.2% in the 3rd quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock valued at $91,000 after acquiring an additional 585 shares in the last quarter. Finally, Hoey Investments Inc. bought a new stake in shares of CGI during the 4th quarter valued at $99,000. 66.68% of the stock is owned by institutional investors and hedge funds.

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.