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

Key Points

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Shares of CGI Group, Inc. (NYSE:GIB - Get Free Report) TSE: GIB.A have received an average rating of "Buy" from the four ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $148.25.

A number of research firms have commented on GIB. UBS Group reduced their target price on CGI Group from $112.00 to $105.00 and set a "neutral" rating on the stock in a research report on Thursday. Royal Bank Of Canada reduced their target price on CGI Group from $185.00 to $175.00 and set an "outperform" rating on the stock in a research report on Thursday.

Institutional Investors Weigh In On CGI Group

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

CGI Group Price Performance

Shares of NYSE:GIB traded up $0.15 during trading on Thursday, reaching $95.63. The stock had a trading volume of 18,166 shares, compared to its average volume of 275,227. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.27. The business has a fifty day moving average price of $104.29 and a 200-day moving average price of $106.37. The stock has a market cap of $21.32 billion, a PE ratio of 17.67, a PEG ratio of 1.76 and a beta of 0.72. CGI Group has a 1-year low of $92.85 and a 1-year high of $122.79.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.52 earnings per share for the quarter, topping analysts' consensus estimates of $1.51 by $0.01. CGI Group had a return on equity of 18.53% and a net margin of 11.01%. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the company posted $1.91 earnings per share. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. On average, equities analysts forecast that CGI Group will post 5.79 earnings per share for the current fiscal year.

CGI Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 15th will be issued a $0.1086 dividend. The ex-dividend date is 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 (DPR) is presently 7.95%.

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.