Jefferies Financial Group Lowers CGI (NYSE:GIB) Price Target to $135.00

CGI (NYSE:GIB) (TSE:GIB.A) had its target price decreased by Jefferies Financial Group from $140.00 to $135.00 in a research note issued to investors on Tuesday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the technology company’s stock.

A number of other analysts have also issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $178.00 target price on shares of CGI in a report on Monday, January 6th. StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, CIBC raised 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 report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $150.75.

CGI Price Performance

Shares of NYSE GIB opened at $110.56 on Tuesday. The company has a market capitalization of $25.20 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 2.33 and a beta of 0.95. CGI has a twelve month low of $96.92 and a twelve month high of $118.89. The firm has a 50-day moving average of $110.41 and a two-hundred day moving average of $110.85. 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 Announces Dividend

The company also recently disclosed a — dividend, which was paid on Friday, December 20th. Investors of record on Wednesday, November 20th were paid a dividend of $0.111 per share. This represents a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, November 20th. CGI’s payout ratio is 8.55%.

Institutional Investors Weigh In On CGI

A number of hedge funds and other institutional investors have recently made changes to their positions in GIB. American Century Companies Inc. lifted its position in shares of CGI by 2.0% in the second quarter. American Century Companies Inc. now owns 27,896 shares of the technology company’s stock worth $2,784,000 after purchasing an additional 540 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in CGI by 22.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 625,106 shares of the technology company’s stock valued at $62,394,000 after acquiring an additional 113,903 shares during the period. XTX Topco Ltd bought a new position in shares of CGI in the second quarter valued at about $230,000. Frank Rimerman Advisors LLC acquired a new stake in CGI during the second quarter worth approximately $515,000. Finally, EverSource Wealth Advisors LLC boosted its stake in CGI by 9.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock valued at $205,000 after purchasing an additional 173 shares during the period. 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.