CGI Inc. (NYSE:GIB) Receives Consensus Recommendation of “Buy” from Analysts

Shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) have earned an average rating of “Buy” from the five ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, two have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $137.00.

Several research analysts recently weighed in on the company. Cibc World Mkts raised CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and lifted their price objective for the stock from $155.00 to $178.00 in a research note on Tuesday, October 15th. Finally, StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th.

CGI Price Performance

Shares of GIB opened at $109.30 on Tuesday. CGI has a one year low of $96.92 and a one year high of $118.89. The stock’s fifty day moving average is $111.63 and its 200-day moving average is $109.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.02 and a current ratio of 1.36. The firm has a market capitalization of $24.91 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 2.60 and a beta of 0.94.

CGI Dividend Announcement

The company also recently declared a — dividend, which was paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th were issued a dividend of $0.111 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a dividend yield of 0.4%. CGI’s dividend payout ratio is 8.18%.

Hedge Funds Weigh In On CGI

Hedge funds have recently bought and sold shares of the business. National Bank of Canada FI boosted its stake in shares of CGI by 23.6% during the 3rd quarter. National Bank of Canada FI now owns 4,513,733 shares of the technology company’s stock worth $519,072,000 after acquiring an additional 861,771 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in CGI by 68.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock worth $157,485,000 after purchasing an additional 555,017 shares during the period. Barclays PLC grew its holdings in CGI by 182.6% during the third quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock valued at $54,808,000 after purchasing an additional 308,040 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of CGI by 1.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,290,487 shares of the technology company’s stock valued at $1,876,550,000 after purchasing an additional 230,000 shares during the period. Finally, Fiera Capital Corp lifted its stake in shares of CGI by 2.7% in the third quarter. Fiera Capital Corp now owns 4,384,639 shares of the technology company’s stock worth $505,173,000 after buying an additional 114,864 shares during the last quarter. 66.68% of the stock is owned by institutional investors and hedge funds.

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.