Brokerages Set CGI Inc. (NYSE:GIB) PT at $137.00

Shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) have been given a consensus recommendation of “Buy” by the five ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $137.00.

Several brokerages have issued reports on GIB. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. CIBC raised CGI from a “neutral” rating to an “outperformer” rating and upped their price target for the company from $155.00 to $178.00 in a research report on Tuesday, October 15th. Finally, StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th.

CGI Price Performance

Shares of NYSE GIB opened at $109.18 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.29. CGI has a fifty-two week low of $96.92 and a fifty-two week high of $118.89. The business has a 50 day moving average price of $111.34 and a two-hundred day moving average price of $110.01. The firm has a market cap of $24.88 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 2.60 and a beta of 0.94.

CGI Dividend Announcement

The company also recently declared a — dividend, which was paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th were given a dividend of $0.111 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a dividend yield of 0.4%. CGI’s dividend payout ratio is currently 8.18%.

Institutional Investors Weigh In On CGI

A number of hedge funds have recently made changes to their positions in GIB. Van ECK Associates Corp lifted its holdings in CGI by 5.8% in the second quarter. Van ECK Associates Corp now owns 32,771 shares of the technology company’s stock worth $3,271,000 after purchasing an additional 1,792 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of CGI by 8.5% in the second quarter. Farther Finance Advisors LLC now owns 6,453 shares of the technology company’s stock valued at $639,000 after acquiring an additional 505 shares in the last quarter. Versor Investments LP acquired a new position in shares of CGI during the second quarter valued at approximately $340,000. Fiera Capital Corp raised its holdings in CGI by 1.9% during the second quarter. Fiera Capital Corp now owns 4,269,775 shares of the technology company’s stock worth $426,353,000 after purchasing an additional 79,303 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in CGI by 2.0% in the second quarter. TD Asset Management Inc now owns 2,203,320 shares of the technology company’s stock worth $219,873,000 after purchasing an additional 43,355 shares during the period. Institutional investors own 66.68% of the company’s stock.

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.