CGI Group, Inc. (NYSE:GIB) Given Average Rating of "Buy" by Analysts

CGI Group, Inc. (NYSE:GIB - Get Free Report) TSE: GIB.A has earned an average rating of "Buy" from the six analysts that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $148.25.

Several research analysts have recently weighed in on the stock. UBS Group dropped their price target on shares of CGI Group from $112.00 to $105.00 and set a "neutral" rating on the stock in a research note on Thursday, July 31st. TD Securities upgraded shares of CGI Group to a "strong-buy" rating in a research note on Friday, October 3rd. Weiss Ratings reiterated a "hold (c)" rating on shares of CGI Group in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada dropped their price target on shares of CGI Group from $185.00 to $175.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st.

CGI Group Trading Up 0.8%

Shares of GIB stock opened at $89.50 on Tuesday. CGI Group has a 12-month low of $87.26 and a 12-month high of $122.79. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The firm's 50 day moving average is $93.56 and its 200 day moving average is $100.43. The stock has a market capitalization of $19.95 billion, a P/E ratio of 16.54, a P/E/G ratio of 1.51 and a beta of 0.73.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last issued its earnings results on Wednesday, July 30th. The technology company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.01. CGI Group had a net margin of 11.01% and a return on equity of 18.53%. The company had revenue of $3 billion for the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter last year, the company posted $1.91 earnings per share. The firm's quarterly revenue was up 11.4% on a year-over-year basis. Research analysts expect that CGI Group will post 5.79 earnings per share for the current year.

CGI Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, August 15th were paid a dividend of $0.1086 per share. The ex-dividend date was Friday, August 15th. This represents a $0.43 annualized dividend and a dividend yield of 0.5%. This is a boost from CGI Group's previous quarterly dividend of $0.11. CGI Group's dividend payout ratio is 7.95%.

Institutional Trading of CGI Group

Several institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada raised its position in shares of CGI Group by 10.1% during the 1st quarter. Royal Bank of Canada now owns 8,151,753 shares of the technology company's stock valued at $813,792,000 after purchasing an additional 747,918 shares during the period. Vanguard Group Inc. raised its position in shares of CGI Group by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 8,037,045 shares of the technology company's stock valued at $802,338,000 after purchasing an additional 94,266 shares during the period. Federation des caisses Desjardins du Quebec raised its position in shares of CGI Group by 22.5% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 4,933,984 shares of the technology company's stock valued at $491,725,000 after purchasing an additional 907,876 shares during the period. Mackenzie Financial Corp raised its position in shares of CGI Group by 0.9% during the 1st quarter. Mackenzie Financial Corp now owns 4,755,285 shares of the technology company's stock valued at $474,702,000 after purchasing an additional 41,631 shares during the period. Finally, Fiera Capital Corp raised its position in shares of CGI Group by 2.1% during the 1st quarter. Fiera Capital Corp now owns 4,380,743 shares of the technology company's stock valued at $437,770,000 after purchasing an additional 89,458 shares during the period. 66.68% of the stock is currently owned by institutional investors.

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.

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