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

CGI Inc. (NYSE:GIB) (TSE:GIB.A) has been assigned an average rating of “Buy” from the five ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $156.75.

Several research firms have recently issued reports on GIB. UBS Group raised 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 decreased their price target on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $192.00 price target on shares of CGI in a report on Wednesday, March 26th.

Institutional Investors Weigh In On CGI

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC increased its position in 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 in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of CGI in the third quarter worth $28,000. Rempart Asset Management Inc. raised its stake in shares of CGI by 0.5% in the 4th quarter. Rempart Asset Management Inc. now owns 188,280 shares of the technology company’s stock valued at $20,554,000 after acquiring an additional 1,015 shares during the period. Harbour Capital Advisors LLC raised its stake in shares of CGI by 39.4% in the 4th quarter. Harbour Capital Advisors LLC now owns 4,758 shares of the technology company’s stock valued at $523,000 after acquiring an additional 1,345 shares during the period. Finally, Signal Advisors Wealth LLC lifted its holdings in shares of CGI by 4.5% during the 4th quarter. Signal Advisors Wealth LLC now owns 3,158 shares of the technology company’s stock valued at $345,000 after acquiring an additional 135 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Price Performance

NYSE:GIB opened at $105.87 on Monday. The firm has a market cap of $24.00 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 2.58 and a beta of 0.78. CGI has a 12-month low of $92.85 and a 12-month high of $122.79. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28. The company’s 50-day moving average is $102.65 and its two-hundred day moving average is $108.98.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its earnings results on Wednesday, April 30th. The technology company reported $1.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.02). The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $4.05 billion. CGI had a return on equity of 19.32% and a net margin of 11.72%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.97 EPS. Research analysts expect that CGI will post 5.79 EPS for the current year.

CGI Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 16th will be issued a $0.1086 dividend. The ex-dividend date is Friday, May 16th. This represents a $0.43 dividend on an annualized basis and a yield of 0.41%. This is a boost from CGI’s previous quarterly dividend of $0.10. CGI’s dividend payout ratio (DPR) is presently 7.47%.

About CGI

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.