CGI Group, Inc. (NYSE:GIB) Receives $117.00 Average Target Price from Analysts

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) has received a consensus rating of “Hold” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $117.00.

Several research analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CGI Group in a research report on Monday, December 29th. Jefferies Financial Group reissued a “hold” rating and issued a $81.00 target price (down from $105.00) on shares of CGI Group in a research note on Monday, November 10th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of CGI Group in a research report on Monday, January 5th. Scotiabank initiated coverage on shares of CGI Group in a research report on Tuesday, January 27th. They issued a “sector perform” rating for the company. Finally, Canadian Imperial Bank of Commerce lowered shares of CGI Group from a “strong-buy” rating to a “hold” rating in a research note on Sunday, December 14th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC bought a new stake in CGI Group in the 1st quarter valued at $347,000. Millennium Management LLC raised its position in shares of CGI Group by 786.2% in the first quarter. Millennium Management LLC now owns 81,470 shares of the technology company’s stock valued at $8,141,000 after purchasing an additional 72,277 shares during the period. Jane Street Group LLC lifted its stake in shares of CGI Group by 29.4% during the 1st quarter. Jane Street Group LLC now owns 12,858 shares of the technology company’s stock worth $1,284,000 after buying an additional 2,921 shares during the last quarter. Mediolanum International Funds Ltd boosted its holdings in shares of CGI Group by 2.9% during the 2nd quarter. Mediolanum International Funds Ltd now owns 49,742 shares of the technology company’s stock worth $5,151,000 after buying an additional 1,425 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in CGI Group by 53.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,452 shares of the technology company’s stock valued at $152,000 after acquiring an additional 505 shares during the period. 66.68% of the stock is currently owned by institutional investors.

CGI Group Trading Up 1.4%

Shares of NYSE:GIB opened at $73.38 on Friday. The company’s 50-day moving average price is $84.66 and its two-hundred day moving average price is $88.52. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.94 and a quick ratio of 0.70. CGI Group has a one year low of $69.96 and a one year high of $110.07. The stock has a market capitalization of $15.76 billion, a PE ratio of 13.74 and a beta of 0.63.

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

CGI Group Announces Dividend

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 paid a $0.17 dividend. The ex-dividend date is Wednesday, February 18th. This represents a $0.68 annualized dividend and a yield of 0.9%. CGI Group’s dividend payout ratio is currently 9.36%.

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.