CGI Group (NYSE:GIB) Receives Outperform Rating from Royal Bank Of Canada

Royal Bank Of Canada reiterated their outperform rating on shares of CGI Group (NYSE:GIB) (TSE:GIB.A) in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a $150.00 price target on the technology company’s stock.

Other equities research analysts also recently issued reports about the stock. TD Securities raised shares of CGI Group to a “strong-buy” rating in a research note on Wednesday, January 28th. Canadian Imperial Bank of Commerce downgraded shares of CGI Group from a “strong-buy” rating to a “hold” rating in a report on Sunday, December 14th. Weiss Ratings lowered CGI Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 27th. Finally, Scotiabank began coverage on CGI Group in a research note on Tuesday, January 27th. They set a “sector perform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, CGI Group has a consensus rating of “Hold” and an average target price of $112.00.

CGI Group Stock Down 1.2%

Shares of NYSE:GIB opened at $72.25 on Wednesday. The business has a 50-day moving average price of $76.42 and a 200 day moving average price of $85.23. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $15.52 billion, a price-to-earnings ratio of 13.53 and a beta of 0.58. CGI Group has a 12-month low of $69.96 and a 12-month high of $110.07.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its 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). The company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $4.08 billion. CGI Group had a net margin of 10.25% and a return on equity of 18.61%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.97 EPS. Sell-side analysts expect that CGI Group will post 5.79 EPS for the current year.

CGI Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Wednesday, February 18th were paid a dividend of $0.17 per share. The ex-dividend date was Wednesday, February 18th. This represents a $0.68 dividend on an annualized basis and a yield of 0.9%. CGI Group’s dividend payout ratio is 9.36%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. First Horizon Corp purchased a new stake in CGI Group during the 3rd quarter worth approximately $29,000. Strive Financial Group LLC purchased a new position in CGI Group in the 4th quarter valued at approximately $37,000. EverSource Wealth Advisors LLC boosted its position 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 buying an additional 505 shares during the period. Crestwood Advisors Group LLC grew its stake in shares of CGI Group by 14.2% in the fourth quarter. Crestwood Advisors Group LLC now owns 4,606 shares of the technology company’s stock worth $425,000 after acquiring an additional 572 shares in the last quarter. Finally, Ethic Inc. grew its stake in shares of CGI Group by 13.4% in the fourth quarter. Ethic Inc. now owns 9,804 shares of the technology company’s stock worth $905,000 after acquiring an additional 1,158 shares in the last quarter. Hedge funds and other institutional investors own 66.68% of the company’s stock.

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.