CGI (NYSE:GIB) Sets New 12-Month Low - Should You Sell?

CGI Inc. (NYSE:GIB - Get Free Report) TSE: GIB.A hit a new 52-week low during mid-day trading on Monday . The company traded as low as $96.75 and last traded at $98.94, with a volume of 98295 shares traded. The stock had previously closed at $98.12.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GIB. UBS Group upped their target price on CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Royal Bank of Canada restated an "outperform" rating and set a $192.00 price objective on shares of CGI in a research note on Wednesday, March 26th. Finally, Jefferies Financial Group cut their target price on CGI from $140.00 to $135.00 and set a "buy" rating on the stock in a research note on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, CGI currently has an average rating of "Buy" and an average price target of $156.75.

CGI Stock Down 3.8 %

The stock has a market cap of $21.88 billion, a P/E ratio of 17.45, a P/E/G ratio of 2.58 and a beta of 0.96. The firm has a 50 day simple moving average of $109.53 and a two-hundred day simple moving average of $111.15. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31.

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

CGI Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.42 annualized dividend and a yield of 0.43%. CGI's payout ratio is 7.41%.

Hedge Funds Weigh In On CGI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of CGI by 8.6% in the third quarter. Geode Capital Management LLC now owns 998,470 shares of the technology company's stock valued at $115,844,000 after buying an additional 79,362 shares during the period. Barclays PLC lifted its holdings in CGI by 182.6% in the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company's stock valued at $54,808,000 after acquiring an additional 308,040 shares during the last quarter. Blue Trust Inc. boosted its position 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 valued at $134,000 after purchasing an additional 375 shares in the last quarter. Jane Street Group LLC grew its stake in shares of CGI by 19.2% in the 3rd quarter. Jane Street Group LLC now owns 39,784 shares of the technology company's stock worth $4,574,000 after purchasing an additional 6,403 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of CGI by 21.1% in the 3rd quarter. Wellington Management Group LLP now owns 96,516 shares of the technology company's stock worth $11,118,000 after purchasing an additional 16,844 shares in the last quarter. 66.68% of the stock is owned by institutional investors.

About CGI

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.