CGI Inc. (NYSE:GIB) Given Consensus Rating of “Buy” by Brokerages

CGI Inc. (NYSE:GIB) (TSE:GIB.A) has been given an average rating of “Buy” by the five research firms that are presently covering the firm, MarketBeat.com reports. One research 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 brokerages that have updated their coverage on the stock in the last year is $137.00.

GIB has been the topic of several research reports. StockNews.com upgraded shares of CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and lifted their price target for the stock from $155.00 to $178.00 in a research note on Tuesday, October 15th. Finally, Cibc World Mkts raised shares of CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th.

CGI Stock Down 0.5 %

Shares of GIB stock opened at $109.30 on Tuesday. The stock has a 50 day moving average of $111.63 and a 200-day moving average of $109.95. The firm has a market cap of $24.91 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 2.60 and a beta of 0.94. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.29. CGI has a 12 month low of $96.92 and a 12 month high of $118.89.

CGI Announces Dividend

The company also recently announced a — dividend, which was paid on Friday, December 20th. Investors of record on Wednesday, November 20th were given a dividend of $0.111 per share. This represents a dividend yield of 0.4%. The ex-dividend date was Wednesday, November 20th. CGI’s dividend payout ratio (DPR) is currently 8.18%.

Hedge Funds Weigh In On CGI

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. National Bank of Canada FI increased its holdings in shares of CGI by 23.6% during the third 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in CGI by 68.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock worth $157,485,000 after acquiring an additional 555,017 shares during the last quarter. Barclays PLC increased its holdings in CGI by 182.6% during the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock valued at $54,808,000 after purchasing an additional 308,040 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in CGI by 1.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,290,487 shares of the technology company’s stock valued at $1,876,550,000 after purchasing an additional 230,000 shares during the last quarter. Finally, Fiera Capital Corp boosted its stake in CGI by 2.7% in the third quarter. Fiera Capital Corp now owns 4,384,639 shares of the technology company’s stock worth $505,173,000 after purchasing an additional 114,864 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

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.