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

Shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) have received an average recommendation of “Hold” from the seven research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $83.6667.

Several research firms have recently weighed in on GIB. Royal Bank Of Canada downgraded CGI Group from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $150.00 to $100.00 in a research report on Thursday, April 30th. UBS Group dropped their price objective on shares of CGI Group from $79.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of CGI Group in a research report on Wednesday, June 24th.

Institutional Trading of CGI Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GIB. Strive Financial Group LLC bought a new stake in CGI Group in the fourth quarter worth about $37,000. EverSource Wealth Advisors LLC grew its stake in shares of CGI Group by 21.6% during 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 last quarter. Hughes Financial Services LLC purchased a new stake in shares of CGI Group in the third quarter worth approximately $174,000. Venturi Wealth Management LLC purchased a new stake in shares of CGI Group in the first quarter worth approximately $204,000. Finally, Entropy Technologies LP bought a new stake in shares of CGI Group during the 3rd quarter worth approximately $236,000. 66.68% of the stock is owned by hedge funds and other institutional investors.

CGI Group Trading Down 0.1%

Shares of NYSE GIB opened at $66.44 on Friday. The business’s 50 day moving average is $66.29 and its two-hundred day moving average is $75.77. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.95 and a quick ratio of 0.68. CGI Group has a 1-year low of $59.63 and a 1-year high of $106.45. The stock has a market capitalization of $14.05 billion, a P/E ratio of 11.99 and a beta of 0.48.

CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.65 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.65. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.05 billion. CGI Group had a return on equity of 18.72% and a net margin of 10.26%.The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.12 earnings per share. As a group, research analysts expect that CGI Group will post 6.54 EPS for the current year.

CGI Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, May 15th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.0%. CGI Group’s payout ratio is currently 9.03%.

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.