CGI Group, Inc. (NYSE:GIB) Given Consensus Recommendation of “Hold” by Brokerages

Shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) have been assigned an average recommendation of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $117.00.

Several analysts recently commented on the company. Jefferies Financial Group reaffirmed a “hold” rating and issued a $81.00 price target (down previously from $105.00) on shares of CGI Group in a research note on Monday, November 10th. Scotiabank initiated coverage on shares of CGI Group in a research note on Tuesday, January 27th. They issued a “sector perform” rating on the stock. TD Securities raised shares of CGI Group to a “strong-buy” rating in a report on Wednesday, January 28th. Royal Bank Of Canada reissued an “outperform” rating on shares of CGI Group in a report on Monday, January 5th. Finally, Canadian Imperial Bank of Commerce lowered shares of CGI Group from a “strong-buy” rating to a “hold” rating in a research report on Sunday, December 14th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Kepler Cheuvreux Suisse SA grew its holdings in CGI Group by 7.5% during the 4th quarter. Kepler Cheuvreux Suisse SA now owns 78,358 shares of the technology company’s stock worth $7,232,000 after acquiring an additional 5,457 shares during the last quarter. Ethic Inc. lifted its position in shares of CGI Group by 13.4% during the fourth quarter. Ethic Inc. now owns 9,804 shares of the technology company’s stock worth $905,000 after purchasing an additional 1,158 shares in the last quarter. Crestwood Advisors Group LLC grew its stake in shares of CGI Group by 14.2% during the fourth quarter. Crestwood Advisors Group LLC now owns 4,606 shares of the technology company’s stock valued at $425,000 after purchasing an additional 572 shares during the last quarter. Danske Bank A S increased its holdings in shares of CGI Group by 24.1% in the fourth quarter. Danske Bank A S now owns 10,834 shares of the technology company’s stock valued at $1,002,000 after purchasing an additional 2,103 shares in the last quarter. Finally, Davis Rea LTD. increased its holdings in shares of 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 purchasing an additional 5,779 shares in the last quarter. 66.68% of the stock is owned by institutional investors.

CGI Group Stock Performance

NYSE GIB opened at $81.10 on Wednesday. The stock has a market cap of $17.77 billion, a P/E ratio of 15.19 and a beta of 0.59. The company’s 50-day simple moving average is $90.09 and its 200 day simple moving average is $90.93. CGI Group has a twelve month low of $77.86 and a twelve month high of $122.79. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.28.

CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings results on Wednesday, January 28th. The technology company reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.04). CGI Group had a return on equity of 18.61% and a net margin of 10.25%.The business had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the business earned $1.97 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, research analysts forecast that CGI Group will post 5.79 earnings per share for the current fiscal year.

CGI Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Wednesday, February 18th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $0.68 dividend on an annualized basis and a yield of 0.8%. CGI Group’s payout ratio is currently 9.18%.

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.