CGI Group (NYSE:GIB) Stock Crosses Above 200 Day Moving Average – What’s Next?

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $71.62 and traded as high as $74.27. CGI Group shares last traded at $74.1830, with a volume of 400,818 shares.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GIB shares. TD Securities downgraded CGI Group from a “buy” rating to a “hold” rating in a report on Thursday, July 23rd. Royal Bank Of Canada downgraded CGI Group from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $150.00 to $100.00 in a report on Thursday, April 30th. Weiss Ratings reiterated a “sell (d+)” rating on shares of CGI Group in a research report on Wednesday, June 24th. Finally, UBS Group lowered their price objective on CGI Group from $79.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $83.67.

CGI Group Stock Performance

The stock has a fifty day simple moving average of $67.38 and a two-hundred day simple moving average of $71.64. 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 stock has a market capitalization of $15.81 billion, a price-to-earnings ratio of 12.83 and a beta of 0.46.

CGI Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 14th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, August 14th. CGI Group’s dividend payout ratio (DPR) is presently 8.58%.

Institutional Investors Weigh In On CGI Group

A number of hedge funds have recently added to or reduced their stakes in the company. Strive Financial Group LLC acquired a new stake in CGI Group in the 4th quarter valued at $37,000. EverSource Wealth Advisors LLC grew its position in CGI Group by 21.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,334 shares of the technology company’s stock worth $98,000 after purchasing an additional 237 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of CGI Group during the 1st quarter worth approximately $204,000. Entropy Technologies LP purchased a new position in shares of CGI Group in the 3rd quarter worth approximately $236,000. Finally, Glenmede Trust Co. NA boosted its stake in shares of CGI Group by 38.3% in the 1st quarter. Glenmede Trust Co. NA now owns 3,409 shares of the technology company’s stock worth $249,000 after buying an additional 944 shares during the last quarter. Institutional investors and hedge funds own 66.68% of the company’s stock.

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.