CGI Inc. (NYSE:GIB) Given Consensus Rating of “Buy” by Analysts

CGI Inc. (NYSE:GIB) (TSE:GIB.A) has earned a consensus rating of “Buy” from the six research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, three have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $150.75.

Several research analysts have commented on GIB shares. Jefferies Financial Group dropped their price objective on shares of CGI from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and set a $178.00 target price on shares of CGI in a research report on Monday, January 6th. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Finally, CIBC upgraded CGI from a “neutral” rating to an “outperformer” rating and lifted their target price for the stock from $155.00 to $178.00 in a research report on Tuesday, October 15th.

CGI Stock Up 0.3 %

NYSE GIB opened at $111.96 on Friday. 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 company has a market capitalization of $25.52 billion, a P/E ratio of 20.81, a P/E/G ratio of 2.40 and a beta of 0.95. CGI has a one year low of $96.92 and a one year high of $118.89. The stock has a 50 day moving average price of $110.45 and a 200-day moving average price of $110.93.

CGI Dividend Announcement

The company also recently disclosed a — dividend, which was paid on Friday, December 20th. Investors of record on Wednesday, November 20th were paid a $0.111 dividend. This represents a yield of 0.4%. The ex-dividend date was Wednesday, November 20th. CGI’s dividend payout ratio is currently 8.55%.

Institutional Trading of CGI

Several large investors have recently added to or reduced their stakes in GIB. Canoe Financial LP purchased a new stake in CGI in the 4th quarter valued at $94,390,000. National Bank of Canada FI grew its holdings 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 purchasing an additional 861,771 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of CGI by 68.2% during the 3rd 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 shares of CGI by 182.6% during the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock worth $54,808,000 after purchasing an additional 308,040 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of CGI by 1.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,290,487 shares of the technology company’s stock worth $1,876,550,000 after purchasing an additional 230,000 shares during the period. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

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.