CGI (NYSE:GIB) Trading Down 5.1% – Here’s Why

Shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) traded down 5.1% during trading on Thursday . The stock traded as low as $98.46 and last traded at $98.23. 86,333 shares were traded during mid-day trading, a decline of 51% from the average session volume of 175,870 shares. The stock had previously closed at $103.52.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GIB. UBS Group increased their price target on shares of CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Jefferies Financial Group decreased their price objective on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $178.00 price objective on shares of CGI in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, CGI presently has a consensus rating of “Buy” and a consensus target price of $153.25.

CGI Stock Down 4.5 %

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 stock has a market cap of $22.42 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96. The firm has a 50 day simple moving average of $111.54 and a two-hundred day simple moving average of $112.18.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, hitting the consensus estimate of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. As a group, sell-side analysts expect that CGI Inc. will post 5.79 EPS for the current year.

CGI Dividend Announcement

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

Institutional Investors Weigh In On CGI

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB bought a new position in CGI during the 3rd quarter worth about $28,000. Sierra Ocean LLC acquired a new position in shares of CGI during the fourth quarter worth about $62,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in CGI during the 4th quarter worth approximately $83,000. Hoey Investments Inc. acquired a new position in CGI during the 4th quarter worth approximately $99,000. Finally, Blue Trust Inc. grew its position in CGI by 47.6% in the fourth quarter. Blue Trust Inc. now owns 1,163 shares of the technology company’s stock valued at $134,000 after purchasing an additional 375 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

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.