CGI Group, Inc. (NYSE:GIB) Given Consensus Recommendation of “Buy” by Analysts

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) has been assigned a consensus rating of “Buy” from the four ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $148.25.

A number of research firms have commented on GIB. Royal Bank Of Canada reduced their target price on CGI Group from $185.00 to $175.00 and set an “outperform” rating for the company in a report on Thursday, July 31st. UBS Group cut their price objective on CGI Group from $112.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, July 31st.

CGI Group Stock Down 3.7%

CGI Group stock opened at $88.36 on Friday. The firm has a market cap of $19.70 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 1.69 and a beta of 0.75. The stock has a fifty day simple moving average of $95.78 and a two-hundred day simple moving average of $101.38. CGI Group has a 12 month low of $88.23 and a 12 month high of $122.79. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its earnings results on Wednesday, July 30th. The technology company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.01. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $4.01 billion. CGI Group had a return on equity of 18.53% and a net margin of 11.01%.The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.91 EPS. Equities analysts predict that CGI Group will post 5.79 EPS for the current fiscal year.

CGI Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 15th were issued a $0.1086 dividend. The ex-dividend date of this dividend was Friday, August 15th. This is an increase from CGI Group’s previous quarterly dividend of $0.11. This represents a $0.43 annualized dividend and a dividend yield of 0.5%. CGI Group’s dividend payout ratio is presently 7.95%.

Institutional Trading of CGI Group

Large investors have recently modified their holdings of the company. SVB Wealth LLC bought a new stake in shares of CGI Group in the first quarter worth $25,000. Fifth Third Bancorp grew its holdings in shares of CGI Group by 239.5% in the first quarter. Fifth Third Bancorp now owns 258 shares of the technology company’s stock worth $26,000 after acquiring an additional 182 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in shares of CGI Group by 292.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,005 shares of the technology company’s stock worth $100,000 after acquiring an additional 749 shares during the period. Versant Capital Management Inc grew its holdings in shares of CGI Group by 371.7% in the first quarter. Versant Capital Management Inc now owns 1,052 shares of the technology company’s stock worth $105,000 after acquiring an additional 829 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in CGI Group by 53.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,452 shares of the technology company’s stock valued at $152,000 after purchasing an additional 505 shares in the last quarter. Institutional investors own 66.68% of the company’s stock.

About CGI Group

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.