Analysts Set CGI Inc. (NYSE:GIB) PT at $153.25

CGI Inc. (NYSE:GIB) (TSE:GIB.A) has been assigned an average recommendation of “Buy” from the six brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $153.25.

A number of brokerages have weighed in on GIB. Jefferies Financial Group reduced their target price on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $178.00 price objective on shares of CGI in a research report on Monday, January 6th. Finally, UBS Group increased their price objective on shares of CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd.

CGI Price Performance

CGI stock opened at $103.29 on Friday. The firm has a market cap of $23.42 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.04. The stock’s fifty day moving average price is $111.66 and its two-hundred day moving average price is $112.24. CGI has a one year low of $96.92 and a one year high of $122.79.

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

CGI Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 14th will be issued a dividend of $0.1039 per share. This represents a $0.42 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Friday, February 14th. CGI’s payout ratio is 7.41%.

Institutional Trading of CGI

Institutional investors have recently modified their holdings of the business. Norges Bank acquired a new stake in shares of CGI in the fourth quarter valued at about $286,970,000. Canoe Financial LP bought a new stake in CGI in the 4th quarter valued at about $94,390,000. National Bank of Canada FI raised its stake in 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 buying an additional 861,771 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings 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 worth $92,438,000 after acquiring an additional 780,370 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in CGI by 29.3% in 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 acquiring an additional 678,431 shares during the period. Institutional investors own 66.68% of the company’s stock.

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.