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

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

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

CGI Group Trading Up 2.0%

NYSE GIB opened at $74.47 on Wednesday. The firm’s fifty day moving average is $67.05 and its two-hundred day moving average is $71.88. CGI Group has a one year low of $59.63 and a one year high of $98.19. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.66 and a current ratio of 0.93. The firm has a market cap of $15.75 billion, a PE ratio of 12.77 and a beta of 0.46.

CGI Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 14th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.68 annualized dividend and a dividend yield of 0.9%. CGI Group’s dividend payout ratio is presently 8.58%.

Hedge Funds Weigh In On CGI Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strive Financial Group LLC acquired a new stake in shares of CGI Group during the fourth quarter worth approximately $37,000. EverSource Wealth Advisors LLC raised its holdings in CGI Group by 21.6% in 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 in the last quarter. Venturi Wealth Management LLC bought a new position in CGI Group during the 1st quarter valued at $204,000. Entropy Technologies LP bought a new position in CGI Group during the 3rd quarter valued at $236,000. Finally, Glenmede Trust Co. NA boosted its stake in CGI Group by 38.3% during the 1st 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. 66.68% of the stock is owned by institutional investors and hedge funds.

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.