CGI (NYSE:GIB) Hits New 12-Month Low – Should You Sell?

Shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) hit a new 52-week low during trading on Monday . The stock traded as low as $96.75 and last traded at $98.94, with a volume of 98295 shares traded. The stock had previously closed at $98.12.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GIB. Royal Bank of Canada reaffirmed an “outperform” rating and set a $192.00 price target on shares of CGI in a research note on Wednesday, March 26th. UBS Group lifted their target price on CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, Jefferies Financial Group lowered their price target on CGI from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, CGI currently has a consensus rating of “Buy” and an average price target of $156.75.

CGI Stock Performance

The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28. The firm has a market cap of $22.98 billion, a PE ratio of 18.33, a P/E/G ratio of 2.58 and a beta of 0.96. The stock’s 50 day moving average price is $109.94 and its 200 day moving average price is $111.29.

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

CGI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 14th were issued a dividend of $0.1039 per share. The ex-dividend date was Friday, February 14th. This represents a $0.42 annualized dividend and a dividend yield of 0.41%. CGI’s payout ratio is currently 7.41%.

Hedge Funds Weigh In On CGI

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of CGI during the third quarter valued at approximately $28,000. Sierra Ocean LLC acquired a new stake in CGI during the 4th quarter valued at $62,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in CGI during the 4th quarter valued at $83,000. Hoey Investments Inc. purchased a new stake in CGI during the 4th quarter worth $99,000. Finally, Blue Trust Inc. lifted its holdings in CGI by 47.6% in the 4th quarter. Blue Trust Inc. now owns 1,163 shares of the technology company’s stock worth $134,000 after buying an additional 375 shares in the last quarter. Hedge funds and other 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.