CGI Group, Inc. (NYSE:GIB) Receives Average Rating of “Hold” from Brokerages

Shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) have been given a consensus recommendation of “Hold” by the seven brokerages that are currently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $83.6667.

Several equities analysts have recently issued reports on GIB shares. TD Securities cut shares of CGI Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Weiss Ratings raised shares of CGI Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, September 17th.

CGI Group Price Performance

NYSE:GIB opened at $69.20 on Thursday. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 0.28. The business’s 50-day moving average price is $71.98 and its 200 day moving average price is $70.00. CGI Group has a 52-week low of $59.63 and a 52-week high of $95.20. The firm has a market cap of $14.33 billion, a P/E ratio of 11.87 and a beta of 0.47.

CGI Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, August 14th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.68 annualized dividend and a dividend yield of 1.0%. CGI Group’s dividend payout ratio is currently 8.23%.

Institutional Investors Weigh In On CGI Group

Several large investors have recently modified their holdings of the stock. QV Investors Inc. grew its holdings in shares of CGI Group by 31.2% in the 2nd quarter. QV Investors Inc. now owns 908,728 shares of the technology company’s stock worth $58,716,000 after acquiring an additional 216,086 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of CGI Group by 60.4% during the second quarter. Wellington Management Group LLP now owns 213,433 shares of the technology company’s stock valued at $13,791,000 after purchasing an additional 80,368 shares during the last quarter. Nykredit A S purchased a new stake in shares of CGI Group during the second quarter valued at $2,918,000. Andra AP fonden acquired a new position in shares of CGI Group in the 2nd quarter valued at $1,201,000. Finally, Hudson Portfolio Management LLC acquired a new position in shares of CGI Group in the 2nd quarter valued at $1,108,000. 66.68% of the stock is owned by institutional investors.

CGI Group Company Profile

CGI Group Inc, also known as CGI, is a global information technology and business consulting company. It provides consulting, systems integration, application development and maintenance, managed IT services, and business process services to organizations in the public and private sectors.

The company helps clients with digital transformation, cloud computing, cybersecurity, enterprise resource planning, data and analytics, and modernization of legacy systems. CGI also develops and supports industry-specific software and technology solutions for areas such as government, financial services, telecommunications, healthcare, manufacturing, utilities, and transportation.

CGI was founded in 1976 in Montreal, Quebec, by Serge Godin and André Imbeau.