CGI Group (NYSE:GIB) Stock Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• CGI Group shares rose above their 200-day moving average, reaching $74.27 and last trading near $74.18, up 2.2%.
• Analyst sentiment remains cautious: six analysts rate the stock Hold and one rates it Sell, producing a consensus “Reduce” rating and an average price target of $83.67.
• CGI announced a quarterly dividend of $0.17 per share, or $0.68 annualized, yielding approximately 0.9%; institutional investors own 66.68% of the company.

CGI Group, Inc. (NYSE:GIB - Get Free Report) TSE: GIB.A's share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $71.62 and traded as high as $74.27. CGI Group shares last traded at $74.1830, with a volume of 400,818 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Weiss Ratings reiterated a "sell (d+)" rating on shares of CGI Group in a research note on Wednesday, June 24th. UBS Group reduced their target price on CGI Group from $79.00 to $70.00 and set a "neutral" rating for the company in a report on Thursday, April 30th. TD Securities downgraded CGI Group from a "buy" rating to a "hold" rating in a research report on Thursday, July 23rd. Finally, Royal Bank Of Canada lowered CGI Group from an "outperform" rating to a "sector perform" rating and dropped their price target for the stock from $150.00 to $100.00 in a report on Thursday, April 30th. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $83.67.

CGI Group Trading Up 2.2%

The firm has a fifty day moving average of $67.29 and a two-hundred day moving average of $71.62. The company has a market cap of $15.69 billion, a PE ratio of 12.72 and a beta of 0.46. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 0.28.

CGI Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, August 14th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, August 14th. CGI Group's payout ratio is presently 8.06%.

Hedge Funds Weigh In On CGI Group

A number of hedge funds and other institutional investors have recently bought and sold shares of GIB. Glenmede Trust Co. NA increased its position in shares of CGI Group by 38.3% during the 1st quarter. Glenmede Trust Co. NA now owns 3,409 shares of the technology company's stock valued at $249,000 after purchasing an additional 944 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in CGI Group by 21.6% during the first quarter. EverSource Wealth Advisors LLC now owns 1,334 shares of the technology company's stock valued at $98,000 after acquiring an additional 237 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of CGI Group during the first quarter worth approximately $470,000. Strive Financial Group LLC bought a new stake in shares of CGI Group in the 4th quarter worth approximately $37,000. Finally, Entropy Technologies LP purchased a new stake in shares of CGI Group in the 3rd quarter valued at $236,000. Hedge funds and other institutional investors own 66.68% of the company's stock.

About CGI Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source