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

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) has earned a consensus rating of “Hold” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $83.6667.

Several equities analysts recently commented on the company. Royal Bank Of Canada lowered CGI Group from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $150.00 to $100.00 in a report on Thursday, April 30th. Weiss Ratings lowered CGI Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 27th. Finally, UBS Group dropped their target price on CGI Group from $79.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th.

CGI Group Stock Down 1.1%

CGI Group stock opened at $66.54 on Tuesday. CGI Group has a twelve month low of $60.80 and a twelve month high of $110.07. The stock’s fifty day simple moving average is $69.67 and its 200-day simple moving average is $78.95. The company has a current ratio of 0.95, a quick ratio of 0.68 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $14.07 billion, a P/E ratio of 12.01 and a beta of 0.47.

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

CGI Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, May 15th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, May 15th. CGI Group’s dividend payout ratio is 9.03%.

Hedge Funds Weigh In On CGI Group

Several large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased 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 last quarter. Strive Financial Group LLC purchased a new position in CGI Group in the fourth quarter valued at $37,000. Crestwood Advisors Group LLC increased its holdings in CGI Group by 14.2% in the fourth quarter. Crestwood Advisors Group LLC now owns 4,606 shares of the technology company’s stock valued at $425,000 after buying an additional 572 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in CGI Group by 38.3% in the first quarter. Glenmede Trust Co. NA now owns 3,409 shares of the technology company’s stock valued at $249,000 after buying an additional 944 shares during the last quarter. Finally, Ethic Inc. increased its holdings in CGI Group by 13.4% in the fourth quarter. Ethic Inc. now owns 9,804 shares of the technology company’s stock valued at $905,000 after buying an additional 1,158 shares during 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.