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

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) has received an average rating of “Reduce” from the seven brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $83.6667.

Several equities analysts have recently issued reports on the company. UBS Group decreased their price target on CGI Group from $79.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. TD Securities downgraded CGI Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Royal Bank Of Canada lowered CGI Group from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $150.00 to $100.00 in a research note on Thursday, April 30th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of CGI Group in a research report on Wednesday, June 24th.

CGI Group Stock Up 0.9%

Shares of GIB opened at $74.93 on Friday. The firm has a 50 day simple moving average of $68.70 and a two-hundred day simple moving average of $70.67. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.93 and a quick ratio of 0.66. CGI Group has a one year low of $59.63 and a one year high of $97.55. The company has a market cap of $15.84 billion, a P/E ratio of 12.85 and a beta of 0.46.

CGI Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 14th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, August 14th. CGI Group’s dividend payout ratio (DPR) is presently 8.23%.

Institutional Investors Weigh In On CGI Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Strive Financial Group LLC acquired a new position in CGI Group during the 4th quarter worth approximately $37,000. EverSource Wealth Advisors LLC lifted its stake in CGI Group by 21.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,334 shares of the technology company’s stock valued at $98,000 after purchasing an additional 237 shares during the last quarter. Entropy Technologies LP acquired a new stake in CGI Group in the third quarter valued at approximately $236,000. Venturi Wealth Management LLC acquired a new stake in CGI Group in the first quarter valued at approximately $204,000. Finally, Glenmede Trust Co. NA grew its stake in shares of CGI Group by 38.3% during the first quarter. Glenmede Trust Co. NA now owns 3,409 shares of the technology company’s stock worth $249,000 after buying an additional 944 shares during the last quarter. 66.68% of the stock is owned by institutional investors.

CGI Group Company Profile

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.