CGI Group, Inc. (NYSE:GIB) Stock Has Consensus Price Target of $83.67 According to Brokerages

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) has earned an average rating of “Reduce” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $83.67.

Several analysts have commented on GIB shares. TD Securities cut CGI Group from a “buy” rating to a “hold” rating in a report on Thursday, July 23rd. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $100.00 price target on shares of CGI Group in a research note on Tuesday, October 6th. Finally, Weiss Ratings downgraded shares of CGI Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, October 6th.

Hedge Funds Weigh In On CGI Group

A number of large investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in CGI Group by 21.6% in the first quarter. EverSource Wealth Advisors LLC now owns 1,334 shares of the technology company’s stock valued at $98,000 after buying an additional 237 shares during the period. Versant Capital Management Inc lifted its holdings in CGI Group by 48.0% in the 3rd quarter. Versant Capital Management Inc now owns 2,313 shares of the technology company’s stock worth $158,000 after buying an additional 750 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in CGI Group in the first quarter valued at about $204,000. Vontobel Holding Ltd. purchased a new position in shares of CGI Group during the 3rd quarter valued at approximately $206,000. Finally, Glenmede Trust Co. NA boosted its stake in CGI Group by 38.3% during the 1st quarter. Glenmede Trust Co. NA now owns 3,409 shares of the technology company’s stock valued at $249,000 after acquiring an additional 944 shares during the last quarter. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

CGI Group Stock Performance

CGI Group stock opened at $75.31 on Monday. The stock has a fifty day moving average price of $71.93 and a 200 day moving average price of $69.70. CGI Group has a 52 week low of $59.63 and a 52 week high of $95.20. The firm has a market capitalization of $15.60 billion, a P/E ratio of 12.92 and a beta of 0.47. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 0.28.

CGI Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, August 14th were issued a dividend of C$0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Friday, August 14th. CGI Group’s dividend payout ratio is presently 8.23%.

CGI Group Company Profile

CGI Inc, formerly known as CGI Group, is a Canadian information technology and business consulting company headquartered in Montreal, Quebec. Founded in 1976, the company provides technology and business solutions to organizations in the private and public sectors.

CGI’s services include business and IT consulting, systems integration, application development and management, cloud computing, cybersecurity, data analytics, digital transformation, and managed IT services. The company also develops and supports proprietary software and industry-specific solutions for areas such as financial services, government, healthcare, manufacturing, telecommunications, utilities, and retail.

CGI serves clients through operations across North America, Europe, and the Asia-Pacific region.