Brokerages Set CGI Inc. (NYSE:GIB) Price Target at $153.25

Shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) have been given a consensus rating of “Buy” by the six research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $153.25.

Several brokerages have recently weighed in on GIB. UBS Group boosted their price objective on shares of CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and set a $178.00 price objective on shares of CGI in a research report on Monday, January 6th. Finally, Jefferies Financial Group reduced their price target on shares of CGI from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st.

Hedge Funds Weigh In On CGI

Several institutional investors have recently bought and sold shares of GIB. Wilmington Savings Fund Society FSB acquired a new position in CGI in the 3rd quarter valued at $28,000. Sierra Ocean LLC acquired a new position in CGI in the 4th quarter valued at $62,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in CGI in the 4th quarter valued at $83,000. Hoey Investments Inc. acquired a new position in CGI in the 4th quarter valued at $99,000. Finally, Blue Trust Inc. increased its stake in CGI by 47.6% in the 4th quarter. Blue Trust Inc. now owns 1,163 shares of the technology company’s stock valued at $134,000 after buying an additional 375 shares during the period. 66.68% of the stock is owned by institutional investors and hedge funds.

CGI Stock Up 0.1 %

Shares of NYSE:GIB opened at $98.80 on Friday. The company has a market capitalization of $22.40 billion, a PE ratio of 17.87, a P/E/G ratio of 2.58 and a beta of 0.96. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28. CGI has a twelve month low of $96.92 and a twelve month high of $122.79. The firm has a 50 day simple moving average of $111.15 and a 200-day simple moving average of $111.99.

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

CGI Dividend Announcement

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

CGI Company Profile

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.