CGI Group (NYSE:GIB) Upgraded at TD Securities

TD Securities upgraded shares of CGI Group (NYSE:GIB) (TSE:GIB.A) to a strong-buy rating in a research report released on Wednesday morning,Zacks.com reports.

GIB has been the topic of a number of other research reports. Cibc Captl Mkts downgraded shares of CGI Group from a “strong-buy” rating to a “hold” rating in a research note on Sunday, December 14th. Weiss Ratings restated a “hold (c-)” rating on shares of CGI Group in a report on Monday, December 29th. Jefferies Financial Group restated a “hold” rating and set a $81.00 target price (down from $105.00) on shares of CGI Group in a research report on Monday, November 10th. Scotiabank started coverage on CGI Group in a research report on Tuesday. They issued a “sector perform” rating for the company. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of CGI Group in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, CGI Group presently has a consensus rating of “Hold” and a consensus price target of $117.00.

CGI Group Price Performance

Shares of NYSE:GIB opened at $85.77 on Wednesday. The firm has a market cap of $18.80 billion, a price-to-earnings ratio of 16.06 and a beta of 0.59. The firm has a fifty day moving average price of $90.97 and a 200 day moving average price of $91.96. CGI Group has a fifty-two week low of $83.75 and a fifty-two week high of $122.79. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.72 and a current ratio of 0.94.

CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings results on Wednesday, January 28th. The technology company reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.04). CGI Group had a net margin of 10.25% and a return on equity of 18.61%. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the company posted $1.97 earnings per share. CGI Group’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts expect that CGI Group will post 5.79 earnings per share for the current fiscal year.

CGI Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Wednesday, February 18th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, February 18th. CGI Group’s dividend payout ratio is 8.99%.

Institutional Trading of CGI Group

Several institutional investors and hedge funds have recently made changes to their positions in GIB. First Horizon Corp bought a new position in CGI Group in the 3rd quarter worth about $29,000. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of CGI Group in the third quarter valued at approximately $144,000. EverSource Wealth Advisors LLC grew its stake in CGI Group by 53.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,452 shares of the technology company’s stock worth $152,000 after purchasing an additional 505 shares in the last quarter. Hughes Financial Services LLC bought a new position in CGI Group in the third quarter worth approximately $174,000. Finally, Entropy Technologies LP purchased a new position in CGI Group during the 3rd quarter worth $236,000. 66.68% of the stock is currently owned by institutional investors.

About CGI Group

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.