CGI Inc. (NYSE:GIB) Receives $153.25 Average Target Price from Brokerages

Shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) have received an average rating of “Buy” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $153.25.

GIB has been the subject of several recent research reports. Jefferies Financial Group decreased their price target on CGI from $140.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. UBS Group upped their target price on shares of CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $178.00 target price on shares of CGI in a report on Monday, January 6th.

Hedge Funds Weigh In On CGI

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in CGI by 8.6% in the third quarter. Geode Capital Management LLC now owns 998,470 shares of the technology company’s stock worth $115,844,000 after acquiring an additional 79,362 shares during the period. Barclays PLC increased its stake in shares of CGI by 182.6% during the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock worth $54,808,000 after purchasing an additional 308,040 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of CGI by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 560,159 shares of the technology company’s stock worth $64,518,000 after purchasing an additional 21,427 shares during the period. Cassaday & Co Wealth Management LLC purchased a new position in CGI in the third quarter valued at approximately $825,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in CGI by 68.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock valued at $157,485,000 after purchasing an additional 555,017 shares during the period. 66.68% of the stock is owned by hedge funds and other institutional investors.

CGI Stock Down 0.8 %

Shares of NYSE GIB opened at $103.29 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.04. The company has a 50-day moving average price of $111.66 and a 200-day moving average price of $112.24. The stock has a market capitalization of $23.42 billion, a P/E ratio of 18.68, a P/E/G ratio of 2.58 and a beta of 0.96. CGI has a 1 year low of $96.92 and a 1 year high of $122.79.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. On average, equities research analysts forecast that CGI will post 5.79 EPS for the current fiscal year.

CGI Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 14th will be given a dividend of $0.1039 per share. This represents a $0.42 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, February 14th. CGI’s dividend payout ratio is presently 7.41%.

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.