CGI Group, Inc. (NYSE:GIB) Receives $117.00 Average Target Price from Analysts

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) has been given an average rating of “Moderate Buy” by the six ratings firms that are covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $117.00.

GIB has been the topic of a number of recent research reports. Cibc Captl Mkts lowered CGI Group from a “strong-buy” rating to a “hold” rating in a research report on Sunday, December 14th. Jefferies Financial Group reaffirmed a “hold” rating and set a $81.00 price target (down previously from $105.00) on shares of CGI Group in a research note on Monday, November 10th. TD Securities upgraded CGI Group to a “strong-buy” rating in a research report on Friday, October 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of CGI Group in a report on Monday, December 29th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of CGI Group in a research report on Monday, January 5th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Beutel Goodman & Co Ltd. boosted its stake in CGI Group by 13.0% in the 2nd quarter. Beutel Goodman & Co Ltd. now owns 3,452,820 shares of the technology company’s stock worth $361,881,000 after purchasing an additional 397,005 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of CGI Group by 275.3% in the first quarter. Goldman Sachs Group Inc. now owns 898,276 shares of the technology company’s stock worth $89,675,000 after buying an additional 658,925 shares in the last quarter. Millennium Management LLC boosted its position in shares of CGI Group by 786.2% in the first quarter. Millennium Management LLC now owns 81,470 shares of the technology company’s stock valued at $8,141,000 after acquiring an additional 72,277 shares during the period. Kepler Cheuvreux Suisse SA purchased a new position in CGI Group during the third quarter valued at approximately $6,498,000. Finally, Mediolanum International Funds Ltd grew its stake in CGI Group by 35.1% during the third quarter. Mediolanum International Funds Ltd now owns 67,190 shares of the technology company’s stock valued at $5,972,000 after acquiring an additional 17,448 shares in the last quarter. Institutional investors and hedge funds own 66.68% of the company’s stock.

CGI Group Trading Up 1.0%

Shares of NYSE GIB opened at $94.78 on Friday. CGI Group has a 1-year low of $84.00 and a 1-year high of $122.79. The company has a 50-day moving average of $90.15 and a two-hundred day moving average of $93.21. The company has a market cap of $20.77 billion, a PE ratio of 18.02 and a beta of 0.59. The company has a current ratio of 0.99, a quick ratio of 0.72 and a debt-to-equity ratio of 0.27.

CGI Group (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, November 5th. The technology company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.53 by $0.02. CGI Group had a net margin of 10.41% and a return on equity of 18.55%. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same period in the prior year, the firm earned $1.92 earnings per share. CGI Group’s revenue was up 9.7% compared to the same quarter last year. As a group, equities analysts expect that CGI Group will post 5.79 earnings per share for the current fiscal year.

CGI Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, November 21st were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, November 21st. This is a boost from CGI Group’s previous quarterly dividend of $0.11. This represents a $0.68 dividend on an annualized basis and a yield of 0.7%. CGI Group’s payout ratio is 9.13%.

About CGI Group

CGI Group Inc is a global information technology and business consulting firm that delivers a broad range of services including IT consulting, systems integration, application development and maintenance, infrastructure and network services, managed IT and business process outsourcing. The company works with clients to design, build and operate IT systems and business solutions, with capabilities spanning cloud and hybrid IT environments, cybersecurity, data analytics and artificial intelligence, digital transformation and enterprise resource planning implementations.

Founded in 1976 in Quebec by Serge Godin and André Imbeau, CGI has grown from a regional systems integrator into a multinational professional services organization.