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

Shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) have been given a consensus recommendation of “Buy” by the five analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $156.75.

Separately, Royal Bank Of Canada reiterated an “outperform” rating and issued a $192.00 price target on shares of CGI Group in a research note on Wednesday, March 26th.

CGI Group Price Performance

Shares of CGI Group stock opened at $104.00 on Tuesday. The business has a 50 day moving average of $106.73 and a 200 day moving average of $107.87. The company has a quick ratio of 0.92, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. The company has a market cap of $23.34 billion, a PE ratio of 18.94, a P/E/G ratio of 1.88 and a beta of 0.77. CGI Group has a 52 week low of $92.85 and a 52 week high of $122.79.

CGI Group (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, April 30th. The technology company reported $1.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.02). The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $4.05 billion. CGI Group had a return on equity of 18.86% and a net margin of 11.53%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.97 earnings per share. As a group, equities research analysts forecast that CGI Group will post 5.79 earnings per share for the current year.

CGI Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 16th were given a dividend of $0.1086 per share. This represents a $0.43 annualized dividend and a yield of 0.42%. This is an increase from CGI Group’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, May 16th. CGI Group’s dividend payout ratio is 7.83%.

Institutional Trading of CGI Group

Several institutional investors have recently bought and sold shares of the company. Modern Wealth Management LLC purchased a new stake in CGI Group during the 1st quarter valued at about $387,000. Turn8 Private Wealth Inc. grew its position in CGI Group by 9.3% during the 1st quarter. Turn8 Private Wealth Inc. now owns 26,021 shares of the technology company’s stock valued at $2,599,000 after purchasing an additional 2,223 shares during the last quarter. Plato Investment Management Ltd purchased a new stake in CGI Group during the 1st quarter valued at about $204,000. Jane Street Group LLC boosted its holdings in shares of CGI Group by 29.4% during the 1st quarter. Jane Street Group LLC now owns 12,858 shares of the technology company’s stock valued at $1,284,000 after acquiring an additional 2,921 shares during the last quarter. Finally, Ascent Group LLC boosted its holdings in shares of CGI Group by 39.0% during the 1st quarter. Ascent Group LLC now owns 3,053 shares of the technology company’s stock valued at $305,000 after acquiring an additional 857 shares during the last quarter. 66.68% of the stock is owned by hedge funds and other institutional investors.

CGI Group 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.