CGI (NYSE:GIB) Reaches New 12-Month High – What’s Next?

CGI Inc. (NYSE:GIB) (TSE:GIB.A)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $120.69 and last traded at $120.84, with a volume of 102722 shares. The stock had previously closed at $114.54.

Wall Street Analysts Forecast Growth

GIB has been the subject of several research analyst reports. CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and upped their target price for the company from $155.00 to $178.00 in a research note on Tuesday, October 15th. Cibc World Mkts raised CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $178.00 price target on shares of CGI in a research note on Monday, January 6th. StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Jefferies Financial Group decreased their price objective on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, CGI presently has a consensus rating of “Buy” and an average price target of $150.75.

CGI Stock Up 4.7 %

The business’s fifty day simple moving average is $110.81 and its 200 day simple moving average is $111.27. The stock has a market cap of $27.33 billion, a price-to-earnings ratio of 22.29, a price-to-earnings-growth ratio of 2.40 and a beta of 0.95. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its 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 19.74% and a net margin of 11.53%. Equities analysts forecast that CGI Inc. will post 5.9 earnings per share for the current fiscal year.

CGI Dividend Announcement

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

Institutional Trading of CGI

Several hedge funds have recently bought and sold shares of GIB. Crestwood Advisors Group LLC grew its holdings in shares of CGI by 2.4% during the third quarter. Crestwood Advisors Group LLC now owns 4,222 shares of the technology company’s stock worth $485,000 after buying an additional 97 shares in the last quarter. West Family Investments Inc. boosted its position in CGI by 5.5% during the 3rd quarter. West Family Investments Inc. now owns 2,323 shares of the technology company’s stock worth $267,000 after acquiring an additional 121 shares during the last quarter. Signal Advisors Wealth LLC grew its stake in shares of CGI by 4.5% during the 4th quarter. Signal Advisors Wealth LLC now owns 3,158 shares of the technology company’s stock worth $345,000 after acquiring an additional 135 shares in the last quarter. CWM LLC raised its holdings in shares of CGI by 14.8% in the third quarter. CWM LLC now owns 1,365 shares of the technology company’s stock valued at $157,000 after purchasing an additional 176 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in shares of CGI by 0.6% in the third quarter. Sequoia Financial Advisors LLC now owns 31,098 shares of the technology company’s stock worth $3,575,000 after purchasing an additional 181 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.