CGI Inc. (NYSE:GIB) Receives $156.75 Average PT from Analysts

CGI Inc. (NYSE:GIB) (TSE:GIB.A) has received an average rating of “Buy” from the five analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, two have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $156.75.

Separately, Royal Bank of Canada reissued an “outperform” rating and issued a $192.00 price objective on shares of CGI in a research note on Wednesday, March 26th.

CGI Trading Down 1.6%

Shares of CGI stock opened at $105.84 on Friday. The firm has a market cap of $24.00 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 2.58 and a beta of 0.78. CGI has a twelve month low of $92.85 and a twelve month high of $122.79. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average price of $104.41 and a 200-day moving average price of $108.41.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.02). The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $4.05 billion. CGI had a return on equity of 19.32% and a net margin of 11.72%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.97 EPS. Equities research analysts anticipate that CGI will post 5.79 EPS for the current fiscal year.

CGI Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.1086 per share. The ex-dividend date of this dividend is Friday, May 16th. This is a positive change from CGI’s previous quarterly dividend of $0.10. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.41%. CGI’s payout ratio is 7.47%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GIB. Barclays PLC raised its position in shares of CGI by 182.6% in the third quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock worth $54,808,000 after acquiring an additional 308,040 shares during the period. Blue Trust Inc. raised its holdings in CGI by 47.6% in the 4th quarter. Blue Trust Inc. now owns 1,163 shares of the technology company’s stock valued at $134,000 after acquiring an additional 375 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of CGI by 0.5% in the 4th quarter. Bank of New York Mellon Corp now owns 289,654 shares of the technology company’s stock valued at $31,665,000 after buying an additional 1,409 shares during the period. Northern Trust Corp grew its stake in shares of CGI by 64.4% in the 4th quarter. Northern Trust Corp now owns 194,481 shares of the technology company’s stock valued at $21,261,000 after buying an additional 76,175 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of CGI during the 4th quarter worth approximately $925,000. 66.68% of the stock is currently 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.