CGI Group’s (GIB) Sector Perform Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada reiterated their sector perform rating on shares of CGI Group (NYSE:GIB) (TSE:GIB.A) in a report published on Tuesday morning, Marketbeat Ratings reports. Royal Bank Of Canada currently has a $100.00 price target on the technology company’s stock.

Several other research analysts have also recently issued reports on GIB. Weiss Ratings upgraded shares of CGI Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, September 17th. TD Securities cut CGI Group from a “buy” rating to a “hold” rating in a report on Thursday, July 23rd. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $83.67.

CGI Group Stock Performance

Shares of GIB opened at $69.68 on Tuesday. The firm has a 50-day moving average price of $72.06 and a 200 day moving average price of $69.69. The firm has a market capitalization of $14.43 billion, a PE ratio of 11.95 and a beta of 0.47. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 0.28. CGI Group has a 52-week low of $59.63 and a 52-week high of $95.20.

CGI Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, August 14th were given a dividend of C$0.17 per share. The ex-dividend date was Friday, August 14th. This represents a $0.68 annualized dividend and a dividend yield of 1.0%. CGI Group’s dividend payout ratio (DPR) is 8.23%.

Hedge Funds Weigh In On CGI Group

Several hedge funds have recently made changes to their positions in GIB. Andra AP fonden acquired a new position in CGI Group in the second quarter worth approximately $1,201,000. Wellington Management Group LLP lifted its position in shares of CGI Group by 60.4% during the 2nd quarter. Wellington Management Group LLP now owns 213,433 shares of the technology company’s stock valued at $13,791,000 after acquiring an additional 80,368 shares during the last quarter. Ethic Inc. boosted its stake in shares of CGI Group by 156.4% during the 2nd quarter. Ethic Inc. now owns 24,785 shares of the technology company’s stock worth $1,600,000 after acquiring an additional 15,120 shares in the last quarter. Groupe la Francaise boosted its stake in shares of CGI Group by 0.9% during the 2nd quarter. Groupe la Francaise now owns 1,722,751 shares of the technology company’s stock worth $111,335,000 after acquiring an additional 14,845 shares in the last quarter. Finally, Nykredit A S acquired a new position in shares of CGI Group in the 2nd quarter worth $2,317,000. Institutional investors and hedge funds own 66.68% of the company’s stock.

About CGI Group

CGI Inc, formerly known as CGI Group Inc, is a Canadian information technology and business consulting services company headquartered in Montreal, Quebec. Founded in 1976 by Serge Godin and André Imbeau, the company has grown into a global provider of technology and business solutions for commercial and government clients.

CGI’s services include IT and business consulting, systems integration, application development and maintenance, managed IT services, cybersecurity, cloud computing, and business process services.