CGI Group, Inc. (NYSE:GIB) Given Consensus Rating of “Hold” by Analysts

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) has earned an average rating of “Hold” from the seven analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $83.6667.

GIB has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of CGI Group in a report on Wednesday, June 24th. Royal Bank Of Canada lowered shares of CGI Group from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $150.00 to $100.00 in a report on Thursday, April 30th. Finally, UBS Group cut their target price on CGI Group from $79.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th.

Institutional Trading of CGI Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Kepler Cheuvreux Suisse SA acquired a new stake in shares of CGI Group in the third quarter valued at approximately $6,498,000. EverSource Wealth Advisors LLC increased its stake in shares of CGI Group by 53.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,452 shares of the technology company’s stock worth $152,000 after acquiring an additional 505 shares during the period. Strive Financial Group LLC acquired a new position in CGI Group during the 4th quarter worth approximately $37,000. Glenmede Trust Co. NA raised its position in CGI Group by 38.3% in the first quarter. Glenmede Trust Co. NA now owns 3,409 shares of the technology company’s stock worth $249,000 after acquiring an additional 944 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of CGI Group in the 1st quarter valued at about $470,000. 66.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Group Stock Performance

Shares of CGI Group stock traded up $0.14 during trading on Friday, hitting $67.03. 497,053 shares of the company’s stock were exchanged, compared to its average volume of 497,487. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.68 and a current ratio of 0.95. The business has a 50-day simple moving average of $65.81 and a 200-day simple moving average of $74.89. CGI Group has a 52-week low of $59.63 and a 52-week high of $103.04. The stock has a market capitalization of $14.18 billion, a price-to-earnings ratio of 12.10 and a beta of 0.48.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its earnings results on Wednesday, April 29th. The technology company reported $1.65 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.65. CGI Group had a net margin of 10.26% and a return on equity of 18.72%. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the firm posted $2.12 earnings per share. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. On average, research analysts forecast that CGI Group will post 6.54 EPS for the current year.

CGI Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, May 15th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.0%. CGI Group’s dividend payout ratio is currently 9.03%.

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.