CGI Inc. (NYSE:GIB) Receives $156.75 Consensus Target Price from Brokerages

CGI Inc. (NYSE:GIB - Get Free Report) TSE: GIB.A has been assigned an average recommendation of "Buy" from the five analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $156.75.

GIB has been the subject of a number of recent research reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $192.00 target price on shares of CGI in a research note on Wednesday, March 26th. UBS Group increased their target price on shares of CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd.

Institutional Investors Weigh In On CGI

A number of institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of CGI in the fourth quarter worth about $286,970,000. Federation des caisses Desjardins du Quebec boosted its holdings in CGI by 22.5% in 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 acquiring an additional 907,876 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in CGI by 1,190.6% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 845,916 shares of the technology company's stock valued at $92,438,000 after acquiring an additional 780,370 shares in the last quarter. Royal Bank of Canada grew its position in CGI by 10.1% in the first quarter. Royal Bank of Canada now owns 8,151,753 shares of the technology company's stock valued at $813,792,000 after acquiring an additional 747,918 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of CGI by 29.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company's stock valued at $327,007,000 after purchasing an additional 678,431 shares during the period. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

CGI Stock Performance

NYSE:GIB traded down $0.06 during mid-day trading on Friday, hitting $107.58. The company's stock had a trading volume of 212,269 shares, compared to its average volume of 201,448. The business's fifty day moving average is $104.13 and its two-hundred day moving average is $108.45. The stock has a market cap of $24.39 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 2.58 and a beta of 0.78. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.04. CGI has a 1 year low of $92.85 and a 1 year high of $122.79.

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). The company had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $4.05 billion. CGI had a return on equity of 19.32% and a net margin of 11.72%. The company's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.97 EPS. Analysts anticipate that CGI will post 5.79 EPS for the current fiscal year.

CGI Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 16th will be issued a $0.1086 dividend. This represents a $0.43 dividend on an annualized basis and a yield of 0.40%. This is an increase from CGI's previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, May 16th. CGI's payout ratio is presently 7.47%.

CGI Company Profile

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.