CGI (NYSE:GIB) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of CGI (NYSE:GIB) (TSE:GIB.A) in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a $192.00 target price on the technology company’s stock.

Several other research analysts have also recently weighed in on GIB. Jefferies Financial Group decreased their price objective 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. UBS Group increased their price target on shares of CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, CGI has an average rating of “Buy” and an average target price of $156.75.

CGI Stock Performance

Shares of GIB opened at $100.13 on Wednesday. CGI has a 52-week low of $96.92 and a 52-week high of $122.79. The stock’s 50-day simple moving average is $110.71 and its 200 day simple moving average is $111.74. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31. The stock has a market capitalization of $22.70 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, meeting the consensus estimate of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. Research analysts forecast that CGI will post 5.79 EPS for the current fiscal year.

CGI Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 14th were paid a dividend of $0.1039 per share. The ex-dividend date was Friday, February 14th. This represents a $0.42 annualized dividend and a dividend yield of 0.41%. CGI’s dividend payout ratio (DPR) is presently 7.41%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new stake in shares of CGI during the 3rd quarter valued at about $28,000. Sierra Ocean LLC purchased a new stake in CGI in the fourth quarter worth about $62,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in CGI during the 4th quarter valued at approximately $83,000. Hoey Investments Inc. purchased a new position in shares of CGI during the 4th quarter worth approximately $99,000. Finally, Blue Trust Inc. raised its position in shares of CGI by 47.6% in the 4th quarter. Blue Trust Inc. now owns 1,163 shares of the technology company’s stock worth $134,000 after acquiring an additional 375 shares in the last quarter. 66.68% of the stock is 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.