CGI Inc. (NYSE:GIB) Receives Average Rating of “Buy” from Analysts

CGI Inc. (NYSE:GIB) (TSE:GIB.A) has received an average rating of “Buy” from the six brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $150.75.

A number of equities research analysts have issued reports on the company. StockNews.com raised CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. CIBC raised CGI from a “neutral” rating to an “outperformer” rating and raised their target price for the stock from $155.00 to $178.00 in a research report on Tuesday, October 15th. Jefferies Financial Group cut their target price on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday. Cibc World Mkts raised CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $178.00 target price on shares of CGI in a research report on Monday, January 6th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Haven Global Partners LLC purchased a new position in CGI during the 4th quarter worth approximately $10,711,000. Cibc World Market Inc. grew its stake in shares of CGI by 2.1% in the 4th quarter. Cibc World Market Inc. now owns 1,978,249 shares of the technology company’s stock valued at $216,369,000 after purchasing an additional 40,492 shares during the last quarter. Forsta AP Fonden grew its stake in shares of CGI by 2.4% in the 4th quarter. Forsta AP Fonden now owns 47,600 shares of the technology company’s stock valued at $5,205,000 after purchasing an additional 1,100 shares during the last quarter. KFA Private Wealth Group LLC grew its stake in shares of CGI by 120.9% in the 4th quarter. KFA Private Wealth Group LLC now owns 12,350 shares of the technology company’s stock valued at $1,350,000 after purchasing an additional 6,760 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of CGI in the 4th quarter valued at approximately $1,738,000. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Stock Performance

Shares of CGI stock opened at $111.96 on Friday. The business has a 50-day moving average of $110.45 and a 200 day moving average of $110.93. CGI has a 12 month low of $96.92 and a 12 month high of $118.89. The stock has a market capitalization of $25.52 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 2.40 and a beta of 0.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.02.

CGI Dividend Announcement

The company also recently declared a — dividend, which was paid on Friday, December 20th. Investors of record on Wednesday, November 20th were paid a dividend of $0.111 per share. The ex-dividend date was Wednesday, November 20th. This represents a yield of 0.4%. CGI’s dividend payout ratio is presently 8.55%.

CGI Company Profile

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.