CGI Inc. (NYSE:GIB) Receives Consensus Rating of “Buy” from Brokerages

Shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) have earned an average recommendation of “Buy” from the five ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, two have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $137.00.

A number of research analysts have issued reports on GIB shares. Jefferies Financial Group lifted their target price on CGI from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. UBS Group began coverage on shares of CGI in a research report on Friday, July 19th. They set a “neutral” rating and a $112.00 price objective for the company. CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and raised their target price for the company from $155.00 to $178.00 in a research report on Tuesday, October 15th. Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, StockNews.com cut CGI from a “hold” rating to a “sell” rating in a research note on Thursday.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GIB. Janus Henderson Group PLC raised its holdings in CGI by 3,776.8% during the 1st quarter. Janus Henderson Group PLC now owns 699,798 shares of the technology company’s stock worth $77,381,000 after purchasing an additional 681,747 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of CGI by 68.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock worth $157,485,000 after buying an additional 555,017 shares during the period. Bessemer Group Inc. raised its stake in CGI by 9,135.3% during the first quarter. Bessemer Group Inc. now owns 126,986 shares of the technology company’s stock worth $14,011,000 after buying an additional 125,611 shares during the last quarter. Fiera Capital Corp lifted its holdings in CGI by 2.7% in the third quarter. Fiera Capital Corp now owns 4,384,639 shares of the technology company’s stock valued at $505,173,000 after buying an additional 114,864 shares during the period. Finally, Andra AP fonden bought a new stake in CGI during the second quarter valued at $11,418,000. 66.68% of the stock is owned by institutional investors.

CGI Trading Down 1.2 %

Shares of GIB opened at $111.15 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.16. CGI has a 52-week low of $96.92 and a 52-week high of $118.89. The firm has a market cap of $25.33 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 2.39 and a beta of 0.96. The business’s fifty day moving average is $113.97 and its 200-day moving average is $107.66.

CGI Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th will be given a $0.111 dividend. This represents a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, November 20th.

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.