CGI Group, Inc. (NYSE:GIB) Receives $83.67 Average Target Price from Brokerages

Shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) have been given a consensus rating of “Hold” by the seven analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $83.6667.

A number of brokerages have weighed in on GIB. Weiss Ratings lowered CGI Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 27th. Scotiabank began coverage on CGI Group in a research note on Tuesday, January 27th. They set a “sector perform” rating for the company. TD Securities upgraded CGI Group to a “strong-buy” rating in a research note on Wednesday, January 28th. UBS Group lowered their price objective on CGI Group from $79.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. Finally, Royal Bank Of Canada lowered CGI Group from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $150.00 to $100.00 in a research note on Thursday, April 30th.

CGI Group Stock Performance

Shares of NYSE:GIB opened at $64.69 on Friday. The company has a market cap of $13.68 billion, a P/E ratio of 11.68 and a beta of 0.45. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.68 and a current ratio of 0.95. CGI Group has a one year low of $60.80 and a one year high of $110.07. The business’s 50-day simple moving average is $71.12 and its 200 day simple moving average is $80.84.

CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its earnings results on Wednesday, April 29th. The technology company reported $1.65 EPS for the quarter, meeting the consensus estimate of $1.65. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.05 billion. CGI Group had a return on equity of 18.72% and a net margin of 10.26%.The company’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the business posted $2.12 EPS. On average, sell-side analysts forecast that CGI Group will post 6.54 earnings per share for the current fiscal year.

CGI Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, May 15th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, May 15th. CGI Group’s dividend payout ratio (DPR) is 9.03%.

Institutional Investors Weigh In On CGI Group

Hedge funds have recently bought and sold shares of the business. First Horizon Corp acquired a new position in shares of CGI Group in the 3rd quarter worth approximately $29,000. Strive Financial Group LLC acquired a new position in shares of CGI Group in the 4th quarter worth approximately $37,000. EverSource Wealth Advisors LLC grew its position in shares of CGI Group by 21.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,334 shares of the technology company’s stock worth $98,000 after acquiring an additional 237 shares in the last quarter. Hughes Financial Services LLC acquired a new position in shares of CGI Group in the 3rd quarter worth approximately $174,000. Finally, Entropy Technologies LP acquired a new position in shares of CGI Group in the 3rd quarter worth approximately $236,000. Institutional investors and hedge funds own 66.68% of the company’s stock.

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.