Brokerages Set CGI Inc. (NYSE:GIB) Target Price at $137.00

Shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) have been assigned a consensus recommendation of “Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $147.25.

Several brokerages recently issued reports on GIB. Cibc World Mkts raised shares of CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. CIBC raised CGI from a “neutral” rating to an “outperformer” rating and lifted their price target for the company from $155.00 to $178.00 in a report on Tuesday, October 15th. StockNews.com upgraded shares of CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $178.00 price objective on shares of CGI in a research report on Monday.

CGI Trading Down 0.6 %

Shares of GIB opened at $109.14 on Tuesday. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29. The stock has a 50 day simple moving average of $111.17 and a 200-day simple moving average of $110.30. CGI has a 1 year low of $96.92 and a 1 year high of $118.89. The stock has a market cap of $24.87 billion, a PE ratio of 20.29, a PEG ratio of 2.55 and a beta of 0.94.

CGI Dividend Announcement

The firm also recently announced a — dividend, which was paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th were given a dividend of $0.111 per share. The ex-dividend date was Wednesday, November 20th. This represents a yield of 0.4%. CGI’s payout ratio is presently 8.18%.

Institutional Investors Weigh In On CGI

Several institutional investors have recently modified their holdings of GIB. Crestwood Advisors Group LLC boosted its stake in CGI by 2.4% in the third quarter. Crestwood Advisors Group LLC now owns 4,222 shares of the technology company’s stock valued at $485,000 after acquiring an additional 97 shares during the last quarter. West Family Investments Inc. lifted its stake in shares of CGI by 5.5% in the 3rd quarter. West Family Investments Inc. now owns 2,323 shares of the technology company’s stock valued at $267,000 after purchasing an additional 121 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of CGI by 9.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock worth $205,000 after purchasing an additional 173 shares during the last quarter. CWM LLC boosted its position in shares of CGI by 14.8% in the 3rd quarter. CWM LLC now owns 1,365 shares of the technology company’s stock worth $157,000 after purchasing an additional 176 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in shares of CGI by 0.6% during the third quarter. Sequoia Financial Advisors LLC now owns 31,098 shares of the technology company’s stock worth $3,575,000 after purchasing an additional 181 shares during the period. Institutional investors and hedge funds 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.