CGI Group, Inc. (NYSE:GIB) Receives Consensus Rating of “Reduce” from Analysts

CGI Group, Inc. (NYSE:GIBGet Free Report) (TSE:GIB.A) has received an average recommendation of “Reduce” from the seven ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $83.6667.

Several analysts recently weighed in on GIB shares. UBS Group reduced their price target on CGI Group from $79.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. Royal Bank Of Canada lowered shares of CGI Group from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $150.00 to $100.00 in a research report on Thursday, April 30th. TD Securities downgraded shares of CGI Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of CGI Group in a research report on Wednesday, June 24th.

Check Out Our Latest Research Report on CGI Group

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Strive Financial Group LLC acquired a new position in CGI Group in the fourth quarter valued at about $37,000. EverSource Wealth Advisors LLC grew its stake in CGI Group by 21.6% during the first quarter. EverSource Wealth Advisors LLC now owns 1,334 shares of the technology company’s stock worth $98,000 after buying an additional 237 shares in the last quarter. Entropy Technologies LP bought a new position in CGI Group in the 3rd quarter valued at about $236,000. Venturi Wealth Management LLC bought a new position in CGI Group in the 1st quarter valued at about $204,000. Finally, Glenmede Trust Co. NA increased its holdings in CGI Group by 38.3% in the 1st 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 period. Institutional investors own 66.68% of the company’s stock.

CGI Group Stock Up 0.9%

CGI Group stock opened at $74.93 on Friday. The company’s 50-day moving average price is $68.70 and its two-hundred day moving average price is $70.67. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 0.28. The stock has a market cap of $15.84 billion, a P/E ratio of 12.85 and a beta of 0.46. CGI Group has a twelve month low of $59.63 and a twelve month high of $97.55.

CGI Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 14th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, August 14th. CGI Group’s dividend payout ratio is presently 8.23%.

CGI Group Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for CGI Group (NYSE:GIB)

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