CGI Inc. (NYSE:GIB) Receives Consensus Rating of "Buy" from Brokerages

CGI Inc. (NYSE:GIB - Get Free Report) TSE: GIB.A has been given an average recommendation of "Buy" by the six brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $153.25.

Several equities analysts have recently weighed in on the company. UBS Group lifted their price objective on CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Jefferies Financial Group reduced their target price on CGI from $140.00 to $135.00 and set a "buy" rating for the company in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $178.00 price target on shares of CGI in a research report on Monday, January 6th.

Hedge Funds Weigh In On CGI

Institutional investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in shares of CGI during the 3rd quarter worth approximately $28,000. Sierra Ocean LLC bought a new position in CGI in the 4th quarter valued at $62,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of CGI during the 4th quarter worth $83,000. Hoey Investments Inc. bought a new stake in CGI in the fourth quarter worth about $99,000. Finally, Blue Trust Inc. increased its stake in shares of CGI by 47.6% during the 4th quarter. Blue Trust Inc. now owns 1,163 shares of the technology company's stock worth $134,000 after purchasing an additional 375 shares during the last quarter. 66.68% of the stock is owned by institutional investors and hedge funds.

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CGI Trading Up 0.3 %

Shares of GIB stock traded up $0.29 on Friday, reaching $103.65. 171,640 shares of the stock were exchanged, compared to its average volume of 263,894. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.04. CGI has a one year low of $96.92 and a one year high of $122.79. The stock has a market cap of $23.50 billion, a PE ratio of 18.74, a P/E/G ratio of 2.58 and a beta of 0.96. The stock has a 50 day moving average price of $111.66 and a 200 day moving average price of $112.24.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last released its earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share for the quarter, meeting the consensus estimate of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. Equities research analysts forecast that CGI will post 5.79 EPS for the current fiscal year.

CGI Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 14th will be paid a dividend of $0.1039 per share. The ex-dividend date is Friday, February 14th. This represents a $0.42 annualized dividend and a yield of 0.40%. CGI's dividend payout ratio is currently 7.41%.

CGI Company Profile

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.