CGI (NYSE:GIB) Reaches New 12-Month Low - Here's Why

CGI Inc. (NYSE:GIB - Get Free Report) TSE: GIB.A shares reached a new 52-week low on Monday . The stock traded as low as $92.85 and last traded at $93.82, with a volume of 48423 shares changing hands. The stock had previously closed at $96.47.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GIB shares. Royal Bank of Canada reissued an "outperform" rating and set a $192.00 price objective on shares of CGI in a research report on Wednesday, March 26th. Jefferies Financial Group dropped their price target on CGI from $140.00 to $135.00 and set a "buy" rating on the stock in a research note on Tuesday, January 21st. Finally, UBS Group raised their price objective on CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $156.75.

CGI Price Performance

The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28. The business has a fifty day simple moving average of $106.77 and a 200 day simple moving average of $110.30. The stock has a market capitalization of $23.13 billion, a P/E ratio of 18.45, a price-to-earnings-growth ratio of 2.58 and a beta of 0.85.

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

CGI Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 14th were issued a dividend of $0.1039 per share. This represents a $0.42 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Friday, February 14th. CGI's dividend payout ratio (DPR) is presently 7.41%.

Institutional Trading of CGI

Institutional investors and hedge funds have recently modified their holdings of the business. Wilmington Savings Fund Society FSB purchased a new position in CGI in the third quarter valued at about $28,000. Sierra Ocean LLC purchased a new position in CGI in the fourth quarter valued at approximately $62,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in CGI during the fourth quarter valued at $83,000. Hoey Investments Inc. purchased a new stake in CGI in the fourth quarter worth $99,000. Finally, Versant Capital Management Inc raised its stake in shares of CGI by 371.7% in the first quarter. Versant Capital Management Inc now owns 1,052 shares of the technology company's stock valued at $105,000 after buying an additional 829 shares during the period. 66.68% of the stock is owned by hedge funds and other institutional investors.

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.