CGI Inc. (NYSE:GIB) Receives $150.75 Consensus Price Target from Analysts

Shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) have earned an average recommendation of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $150.75.

A number of research firms recently weighed in on GIB. Jefferies Financial Group dropped their price target 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. Royal Bank of Canada restated an “outperform” rating and issued a $178.00 target price on shares of CGI in a research note on Monday, January 6th. Cibc World Mkts raised CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. StockNews.com raised CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Finally, CIBC raised 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.

CGI Price Performance

GIB stock opened at $117.87 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.02 and a current ratio of 1.36. The business has a 50-day simple moving average of $110.95 and a two-hundred day simple moving average of $111.32. The company has a market capitalization of $26.86 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 2.49 and a beta of 0.95. CGI has a 52-week low of $96.92 and a 52-week high of $121.55.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.41. CGI had a return on equity of 19.59% and a net margin of 11.72%. Research analysts expect that CGI will post 5.85 EPS for the current fiscal year.

CGI Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 14th will be paid a $0.1039 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.42 annualized dividend and a dividend yield of 0.35%. CGI’s payout ratio is presently 8.32%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GIB. Wilmington Savings Fund Society FSB purchased a new stake in CGI during the third quarter valued at about $28,000. Sierra Ocean LLC purchased a new stake in shares of CGI during the 4th quarter valued at approximately $62,000. Blue Trust Inc. boosted its holdings in CGI by 288.2% in the 3rd quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock worth $91,000 after buying an additional 585 shares during the period. CWM LLC raised its holdings in CGI by 14.8% during the 3rd quarter. CWM LLC now owns 1,365 shares of the technology company’s stock valued at $157,000 after acquiring an additional 176 shares during the period. Finally, Werba Rubin Papier Wealth Management purchased a new stake in shares of CGI during the third quarter worth $208,000. 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.