CGI Group (NYSE:GIB) Reaches New 1-Year Low – Here’s What Happened

Shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) reached a new 52-week low during trading on Tuesday . The stock traded as low as $83.61 and last traded at $82.5010, with a volume of 39928 shares changing hands. The stock had previously closed at $86.62.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CGI Group in a research note on Monday, December 29th. Cibc Captl Mkts cut CGI Group from a “strong-buy” rating to a “hold” rating in a report on Sunday, December 14th. Jefferies Financial Group reaffirmed a “hold” rating and set a $81.00 price objective (down previously from $105.00) on shares of CGI Group in a research note on Monday, November 10th. TD Securities raised shares of CGI Group to a “strong-buy” rating in a research note on Wednesday, January 28th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of CGI Group in a report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $117.00.

CGI Group Stock Up 0.1%

The firm has a fifty day simple moving average of $90.63 and a 200 day simple moving average of $91.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.70 and a current ratio of 0.94. The company has a market cap of $18.14 billion, a PE ratio of 15.52 and a beta of 0.59.

CGI Group (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, January 28th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.04). CGI Group had a net margin of 10.25% and a return on equity of 18.61%. The company had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the previous year, the firm posted $1.97 earnings per share. CGI Group’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities research analysts predict that CGI Group, Inc. will post 5.79 EPS for the current year.

CGI Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Wednesday, February 18th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, February 18th. CGI Group’s dividend payout ratio (DPR) is 8.99%.

Institutional Investors Weigh In On CGI Group

A number of institutional investors have recently added to or reduced their stakes in the company. Kepler Cheuvreux Suisse SA raised its holdings in shares of CGI Group by 7.5% in the 4th quarter. Kepler Cheuvreux Suisse SA now owns 78,358 shares of the technology company’s stock worth $7,232,000 after purchasing an additional 5,457 shares during the period. Ethic Inc. grew its holdings in shares of CGI Group by 13.4% during the 4th quarter. Ethic Inc. now owns 9,804 shares of the technology company’s stock worth $905,000 after purchasing an additional 1,158 shares during the period. Crestwood Advisors Group LLC increased its position in CGI Group by 14.2% during the 4th quarter. Crestwood Advisors Group LLC now owns 4,606 shares of the technology company’s stock worth $425,000 after purchasing an additional 572 shares in the last quarter. Danske Bank A S increased its position in CGI Group by 24.1% during the 4th quarter. Danske Bank A S now owns 10,834 shares of the technology company’s stock worth $1,002,000 after purchasing an additional 2,103 shares in the last quarter. Finally, Davis Rea LTD. raised its holdings in CGI Group by 15.9% in the fourth quarter. Davis Rea LTD. now owns 42,200 shares of the technology company’s stock valued at $3,900,000 after buying an additional 5,779 shares during the period. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Group Company Profile

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.