CGI (NYSE:GIB) Price Target Raised to $122.00

CGI (NYSE:GIB) (TSE:GIB.A) had its price target upped by UBS Group from $118.00 to $122.00 in a report published on Monday,Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

A number of other equities research analysts have also issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $178.00 target price on shares of CGI in a report on Monday, January 6th. StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Jefferies Financial Group lowered 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. CIBC raised CGI from a “neutral” rating to an “outperformer” rating and increased their price target for the company from $155.00 to $178.00 in a research report on Tuesday, October 15th. Finally, Cibc World Mkts raised CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $153.25.

CGI Price Performance

GIB stock opened at $120.15 on Monday. The business’s fifty day moving average price is $111.32 and its 200 day moving average price is $111.64. CGI has a 12-month low of $96.92 and a 12-month high of $121.55. 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 has a market capitalization of $27.24 billion, a PE ratio of 21.73, a P/E/G ratio of 2.59 and a beta of 0.94.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings results 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%. On average, sell-side analysts anticipate that CGI will post 5.79 EPS for the current year.

CGI Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 14th will be issued a $0.1039 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.35%. CGI’s payout ratio is currently 7.41%.

Institutional Investors Weigh In On CGI

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC purchased a new position in CGI in the second quarter valued at approximately $2,907,000. CWM LLC grew 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 valued at $157,000 after buying an additional 176 shares during the last quarter. Creative Planning grew its position in shares of CGI by 16.1% in the 3rd quarter. Creative Planning now owns 25,179 shares of the technology company’s stock valued at $2,895,000 after buying an additional 3,490 shares during the last quarter. Walter Public Investments Inc. raised its stake in CGI by 10.5% during the 3rd quarter. Walter Public Investments Inc. now owns 227,796 shares of the technology company’s stock worth $26,194,000 after acquiring an additional 21,582 shares in the last quarter. Finally, Net Worth Advisory Group purchased a new stake in CGI in the third quarter valued at $467,000. Institutional investors and hedge funds own 66.68% of the company’s stock.

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.