Analysts Set CGI Inc. (NYSE:GIB) Target Price at $156.75

CGI Inc. (NYSE:GIB - Get Free Report) TSE: GIB.A has earned an average rating of "Buy" from the five ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $156.75.

GIB has been the topic of several research reports. Jefferies Financial Group lowered their price target on shares of CGI from $140.00 to $135.00 and set a "buy" rating on the stock in a research report on Tuesday, January 21st. Royal Bank of Canada reissued an "outperform" rating and issued a $192.00 price target on shares of CGI in a report on Wednesday, March 26th. Finally, UBS Group increased their price objective on CGI from $118.00 to $122.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd.

CGI Price Performance

GIB traded up $0.15 during trading on Monday, reaching $106.38. 26,360 shares of the stock were exchanged, compared to its average volume of 290,336. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.04. The company has a market capitalization of $24.12 billion, a price-to-earnings ratio of 19.24, a P/E/G ratio of 2.58 and a beta of 0.78. CGI has a 1 year low of $92.85 and a 1 year high of $122.79. The business's 50 day moving average price is $102.59 and its two-hundred day moving average price is $109.03.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last released its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.02). CGI had a return on equity of 19.32% and a net margin of 11.72%. The business had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $4.05 billion. During the same quarter in the prior year, the firm earned $1.97 earnings per share. CGI's quarterly revenue was up 7.6% on a year-over-year basis. As a group, equities research analysts anticipate that CGI will post 5.79 earnings per share for the current year.

CGI Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 16th will be given a $0.1086 dividend. The ex-dividend date is Friday, May 16th. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.41%. This is an increase from CGI's previous quarterly dividend of $0.10. CGI's payout ratio is currently 7.47%.

Hedge Funds Weigh In On CGI

Several large investors have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB purchased a new stake in CGI in the 3rd quarter valued at about $28,000. Fifth Third Bancorp boosted its position in shares of CGI by 239.5% in the first quarter. Fifth Third Bancorp now owns 258 shares of the technology company's stock worth $26,000 after acquiring an additional 182 shares during the last quarter. Sierra Ocean LLC purchased a new stake in CGI in the fourth quarter valued at approximately $62,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in CGI during the fourth quarter worth approximately $83,000. Finally, Hoey Investments Inc. purchased a new position in CGI during the fourth quarter worth approximately $99,000. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

About CGI

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.