CGI Group (NYSE:GIB) Stock Rating Upgraded by TD Securities

TD Securities upgraded shares of CGI Group (NYSE:GIB) (TSE:GIB.A) to a strong-buy rating in a report released on Friday morning,Zacks.com reports.

A number of other equities analysts also recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CGI Group in a research note on Saturday, September 27th. Royal Bank Of Canada reduced their price objective on CGI Group from $185.00 to $175.00 and set an “outperform” rating on the stock in a report on Thursday, July 31st. Finally, UBS Group lowered their target price on CGI Group from $112.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $148.25.

CGI Group Stock Up 1.7%

NYSE GIB opened at $91.75 on Friday. The stock’s 50 day simple moving average is $94.43 and its 200 day simple moving average is $100.83. CGI Group has a one year low of $87.26 and a one year high of $122.79. The firm has a market cap of $20.45 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 1.54 and a beta of 0.73. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 0.94.

CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.01. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $4.01 billion. CGI Group had a return on equity of 18.53% and a net margin of 11.01%.The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.91 EPS. As a group, sell-side analysts forecast that CGI Group will post 5.79 earnings per share for the current fiscal year.

CGI Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, August 15th were paid a $0.1086 dividend. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from CGI Group’s previous quarterly dividend of $0.11. This represents a $0.43 annualized dividend and a yield of 0.5%. CGI Group’s payout ratio is currently 7.95%.

Hedge Funds Weigh In On CGI Group

Several institutional investors have recently modified their holdings of the stock. Beutel Goodman & Co Ltd. increased its stake in shares of CGI Group by 13.0% in the 2nd quarter. Beutel Goodman & Co Ltd. now owns 3,452,820 shares of the technology company’s stock valued at $361,881,000 after acquiring an additional 397,005 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in CGI Group by 53.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,452 shares of the technology company’s stock valued at $152,000 after purchasing an additional 505 shares during the period. Mediolanum International Funds Ltd increased its stake in CGI Group by 2.9% in the second quarter. Mediolanum International Funds Ltd now owns 49,742 shares of the technology company’s stock valued at $5,151,000 after purchasing an additional 1,425 shares in the last quarter. Ethic Inc. raised its holdings in CGI Group by 11.9% in the second quarter. Ethic Inc. now owns 7,092 shares of the technology company’s stock worth $733,000 after purchasing an additional 752 shares during the period. Finally, Yousif Capital Management LLC raised its holdings in CGI Group by 8.1% in the second quarter. Yousif Capital Management LLC now owns 2,591 shares of the technology company’s stock worth $272,000 after purchasing an additional 195 shares during the period. 66.68% of the stock is currently owned by institutional investors and hedge funds.

About CGI Group

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.