CGI Group, Inc. (NYSE:GIB) Receives $83.67 Consensus Price Target from Brokerages

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) has been given an average rating of “Reduce” by the seven research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $83.6667.

A number of analysts recently commented on the stock. TD Securities cut shares of CGI Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Weiss Ratings reiterated a “sell (d+)” rating on shares of CGI Group in a report on Wednesday, June 24th.

Hedge Funds Weigh In On CGI Group

Institutional investors have recently modified their holdings of the business. Groupe la Francaise increased its stake in CGI Group by 0.9% during the 2nd quarter. Groupe la Francaise now owns 1,722,751 shares of the technology company’s stock worth $111,335,000 after purchasing an additional 14,845 shares in the last quarter. QV Investors Inc. lifted its stake in CGI Group by 31.2% in the second quarter. QV Investors Inc. now owns 908,728 shares of the technology company’s stock valued at $58,716,000 after buying an additional 216,086 shares in the last quarter. Wellington Management Group LLP lifted its stake in CGI Group by 60.4% in the second quarter. Wellington Management Group LLP now owns 213,433 shares of the technology company’s stock valued at $13,791,000 after buying an additional 80,368 shares in the last quarter. Millennium Management LLC lifted its stake in CGI Group by 786.2% in the first quarter. Millennium Management LLC now owns 81,470 shares of the technology company’s stock valued at $8,141,000 after buying an additional 72,277 shares in the last quarter. Finally, Kepler Cheuvreux Suisse SA boosted its holdings in shares of CGI Group by 7.5% in the fourth quarter. Kepler Cheuvreux Suisse SA now owns 78,358 shares of the technology company’s stock valued at $7,232,000 after buying an additional 5,457 shares during the period. Institutional investors own 66.68% of the company’s stock.

CGI Group Stock Up 0.2%

Shares of NYSE:GIB opened at $74.67 on Friday. The company has a 50 day moving average price of $69.70 and a two-hundred day moving average price of $70.37. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.66 and a current ratio of 0.93. The company has a market capitalization of $15.79 billion, a PE ratio of 12.81 and a beta of 0.46. CGI Group has a 52 week low of $59.63 and a 52 week high of $97.50.

CGI Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 14th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.9%. CGI Group’s dividend payout ratio (DPR) is currently 8.23%.

CGI Group Company Profile

CGI Group Inc is a global information technology and business consulting firm that delivers a broad range of services including IT consulting, systems integration, application development and maintenance, infrastructure and network services, managed IT and business process outsourcing. The company works with clients to design, build and operate IT systems and business solutions, with capabilities spanning cloud and hybrid IT environments, cybersecurity, data analytics and artificial intelligence, digital transformation and enterprise resource planning implementations.

Founded in 1976 in Quebec by Serge Godin and André Imbeau, CGI has grown from a regional systems integrator into a multinational professional services organization.