Analysts Set CGI Inc. (NYSE:GIB) Price Target at $156.75

Shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) have been given an average rating of “Buy” by the six brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $156.75.

GIB has been the subject of a number of research reports. UBS Group upped their price objective on CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Jefferies Financial Group cut their target price on CGI from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $192.00 price target on shares of CGI in a research report on Wednesday, March 26th.

CGI Trading Up 3.9 %

Shares of GIB opened at $102.03 on Thursday. CGI has a 1-year low of $92.85 and a 1-year high of $122.79. The company has a market capitalization of $23.13 billion, a P/E ratio of 18.45, a P/E/G ratio of 2.58 and a beta of 0.85. 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 firm’s 50 day simple moving average is $106.77 and its 200 day simple moving average is $110.30.

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

CGI Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 14th were paid a $0.1039 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.42 dividend on an annualized basis and a yield of 0.41%. CGI’s dividend payout ratio (DPR) is currently 7.41%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new position in CGI during the 4th quarter valued at about $286,970,000. Canoe Financial LP purchased a new position in shares of CGI during the fourth quarter valued at approximately $94,390,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of CGI by 1,190.6% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 845,916 shares of the technology company’s stock valued at $92,438,000 after acquiring an additional 780,370 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in CGI by 29.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company’s stock worth $327,007,000 after acquiring an additional 678,431 shares during the period. Finally, Bank of Montreal Can boosted its holdings in CGI by 17.3% in the fourth quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company’s stock valued at $419,976,000 after acquiring an additional 567,868 shares in the last quarter. Institutional investors own 66.68% of the company’s stock.

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.