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

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) has received a consensus rating of “Reduce” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $83.6667.

A number of equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CGI Group in a research report on Wednesday, June 24th. TD Securities cut CGI Group from a “buy” rating to a “hold” rating in a report on Thursday, July 23rd.

Institutional Trading of CGI Group

A number of institutional investors and hedge funds have recently modified their holdings of GIB. EverSource Wealth Advisors LLC raised its holdings in shares of CGI Group by 21.6% during the first quarter. EverSource Wealth Advisors LLC now owns 1,334 shares of the technology company’s stock valued at $98,000 after acquiring an additional 237 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in CGI Group during the first quarter worth about $204,000. Glenmede Trust Co. NA lifted its holdings in CGI Group by 38.3% in the first quarter. Glenmede Trust Co. NA now owns 3,409 shares of the technology company’s stock valued at $249,000 after acquiring an additional 944 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of CGI Group in the 1st quarter valued at $470,000. Finally, Tidal Investments LLC lifted its position in CGI Group by 5.4% in the second quarter. Tidal Investments LLC now owns 14,457 shares of the technology company’s stock valued at $933,000 after buying an additional 739 shares during the last quarter. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Group Price Performance

GIB opened at $70.92 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.93 and a quick ratio of 0.66. The firm has a market capitalization of $14.69 billion, a PE ratio of 12.17 and a beta of 0.47. The business’s 50-day moving average is $71.68 and its two-hundred day moving average is $70.13. CGI Group has a 1 year low of $59.63 and a 1 year high of $95.20.

CGI Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, August 14th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, August 14th. CGI Group’s payout ratio is currently 8.23%.

CGI Group Company Profile

CGI Group Inc, also known as CGI, is a global information technology and business consulting company. It provides consulting, systems integration, application development and maintenance, managed IT services, and business process services to organizations in the public and private sectors.

The company helps clients with digital transformation, cloud computing, cybersecurity, enterprise resource planning, data and analytics, and modernization of legacy systems. CGI also develops and supports industry-specific software and technology solutions for areas such as government, financial services, telecommunications, healthcare, manufacturing, utilities, and transportation.

CGI was founded in 1976 in Montreal, Quebec, by Serge Godin and André Imbeau.