CGI Group, Inc. (NYSE:GIB) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) have earned an average rating of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $117.00.

A number of equities research analysts recently issued reports on GIB shares. Royal Bank Of Canada restated an “outperform” rating on shares of CGI Group in a research note on Monday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CGI Group in a report on Monday, December 29th. TD Securities upgraded CGI Group to a “strong-buy” rating in a research note on Friday, October 3rd. Cibc Captl Mkts downgraded CGI Group from a “strong-buy” rating to a “hold” rating in a research note on Sunday, December 14th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $81.00 target price (down previously from $105.00) on shares of CGI Group in a report on Monday, November 10th.

CGI Group Price Performance

CGI Group stock opened at $93.87 on Friday. The business’s 50 day simple moving average is $89.99 and its 200 day simple moving average is $93.43. CGI Group has a 12 month low of $84.00 and a 12 month high of $122.79. The company has a market cap of $20.57 billion, a price-to-earnings ratio of 17.85 and a beta of 0.59. The company has a current ratio of 0.99, a quick ratio of 0.72 and a debt-to-equity ratio of 0.27.

CGI Group (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, November 5th. The technology company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.02. CGI Group had a return on equity of 18.55% and a net margin of 10.41%.The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $4 billion. During the same period last year, the business posted $1.92 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. Sell-side analysts forecast that CGI Group will post 5.79 EPS for the current year.

CGI Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, November 21st were issued a dividend of $0.17 per share. This is a boost from CGI Group’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Friday, November 21st. This represents a $0.68 dividend on an annualized basis and a yield of 0.7%. CGI Group’s payout ratio is currently 9.13%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC purchased a new stake in shares of CGI Group in the first quarter worth $347,000. Millennium Management LLC raised its holdings in shares of CGI Group by 786.2% in the 1st quarter. Millennium Management LLC now owns 81,470 shares of the technology company’s stock valued at $8,141,000 after acquiring an additional 72,277 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of CGI Group by 275.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 898,276 shares of the technology company’s stock valued at $89,675,000 after acquiring an additional 658,925 shares during the last quarter. Ascent Group LLC grew its holdings in shares of CGI Group by 39.0% during the first quarter. Ascent Group LLC now owns 3,053 shares of the technology company’s stock worth $305,000 after purchasing an additional 857 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of CGI Group by 29.4% in the first quarter. Jane Street Group LLC now owns 12,858 shares of the technology company’s stock worth $1,284,000 after purchasing an additional 2,921 shares during the last quarter. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

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.