Brokerages Set CGI Inc. (NYSE:GIB) Target Price at $150.75

Shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) have been given a consensus recommendation of “Buy” by the six ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned 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 $150.75.

GIB has been the subject of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $178.00 target price on shares of CGI in a research note on Monday, January 6th. CIBC raised CGI from a “neutral” rating to an “outperformer” rating and raised their price objective for the stock from $155.00 to $178.00 in a research report on Tuesday, October 15th. Jefferies Financial Group decreased their target price 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. StockNews.com upgraded shares of CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Finally, Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th.

CGI Stock Performance

GIB opened at $113.19 on Friday. CGI has a twelve month low of $96.92 and a twelve month high of $118.89. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $25.80 billion, a PE ratio of 21.04, a PEG ratio of 2.40 and a beta of 0.95. The firm’s 50-day moving average price is $110.55 and its 200 day moving average price is $111.12.

CGI Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GIB. American Century Companies Inc. grew its holdings in shares of CGI by 2.0% during the second quarter. American Century Companies Inc. now owns 27,896 shares of the technology company’s stock worth $2,784,000 after buying an additional 540 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of CGI by 22.3% in the second quarter. Dimensional Fund Advisors LP now owns 625,106 shares of the technology company’s stock valued at $62,394,000 after purchasing an additional 113,903 shares during the period. XTX Topco Ltd purchased a new stake in shares of CGI during the second quarter worth approximately $230,000. Evergreen Capital Management LLC grew its position in CGI by 6.7% in the 2nd quarter. Evergreen Capital Management LLC now owns 3,437 shares of the technology company’s stock valued at $343,000 after buying an additional 215 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in CGI by 184.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 28,765 shares of the technology company’s stock valued at $2,871,000 after buying an additional 18,644 shares during the period. 66.68% of the stock is currently owned by institutional investors and hedge funds.

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.