CGI Group, Inc. (NYSE:GIB) Given Average Recommendation of “Hold” by Brokerages

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) has received an average rating of “Hold” from the seven research firms that are currently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $117.00.

Several brokerages have weighed in on GIB. 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. Scotiabank assumed coverage on shares of CGI Group in a research report on Tuesday, January 27th. They set a “sector perform” rating for the company. Royal Bank Of Canada reissued an “outperform” rating on shares of CGI Group in a research report on Monday, January 5th. Weiss Ratings restated a “hold (c-)” rating on shares of CGI Group in a research note on Monday, December 29th. Finally, TD Securities raised CGI Group to a “strong-buy” rating in a research note on Wednesday, January 28th.

Institutional Investors Weigh In On CGI Group

Several large investors have recently added to or reduced their stakes in GIB. Mediolanum International Funds Ltd grew its stake in shares of CGI Group by 35.1% in the third quarter. Mediolanum International Funds Ltd now owns 67,190 shares of the technology company’s stock worth $5,972,000 after acquiring an additional 17,448 shares in the last quarter. Beutel Goodman & Co Ltd. boosted its holdings in CGI Group by 13.0% in the second quarter. Beutel Goodman & Co Ltd. now owns 3,452,820 shares of the technology company’s stock valued at $361,881,000 after purchasing an additional 397,005 shares during the period. Danske Bank A S grew its stake in CGI Group by 24.1% during the 4th quarter. Danske Bank A S now owns 10,834 shares of the technology company’s stock worth $1,002,000 after purchasing an additional 2,103 shares in the last quarter. Davis Rea LTD. increased its holdings in CGI Group by 15.9% during the 4th quarter. Davis Rea LTD. now owns 42,200 shares of the technology company’s stock worth $3,900,000 after purchasing an additional 5,779 shares during the period. Finally, Hughes Financial Services LLC acquired a new stake in CGI Group in the 3rd quarter valued at about $174,000. 66.68% of the stock is owned by hedge funds and other institutional investors.

CGI Group Price Performance

GIB stock opened at $73.20 on Friday. CGI Group has a 52-week low of $69.96 and a 52-week high of $110.64. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.28. The stock has a market cap of $16.04 billion, a price-to-earnings ratio of 13.71 and a beta of 0.59. The business has a fifty day moving average of $85.48 and a two-hundred day moving average of $88.86.

CGI Group (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, January 28th. The technology company reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.04). The business had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $4.08 billion. CGI Group had a return on equity of 18.61% and a net margin of 10.25%.The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.97 earnings per share. As a group, research analysts anticipate that CGI Group will post 5.79 earnings per share for the current year.

CGI Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Wednesday, February 18th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, February 18th. CGI Group’s 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.