CGI’s (GIB) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of CGI (NYSE:GIB) (TSE:GIB.A) in a research report sent to investors on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has a $192.00 price objective on the technology company’s stock.

GIB has been the subject of a number of other research reports. UBS Group boosted their target price on CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Jefferies Financial Group lowered their price objective 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. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, CGI has a consensus rating of “Buy” and a consensus target price of $156.75.

CGI Stock Performance

CGI stock opened at $100.13 on Wednesday. The stock’s 50 day moving average is $110.71 and its 200 day moving average is $111.74. The company has a market capitalization of $22.70 billion, a P/E ratio of 18.11, a PEG ratio of 2.58 and a beta of 0.96. CGI has a twelve month low of $96.92 and a twelve month high of $122.79. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

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 analysts’ consensus estimates of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. On average, equities research analysts predict that CGI will post 5.79 earnings per share for the current fiscal year.

CGI Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders 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 dividend yield of 0.41%. CGI’s dividend payout ratio (DPR) is 7.41%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GIB. Geode Capital Management LLC increased its stake in CGI by 8.6% in the 3rd quarter. Geode Capital Management LLC now owns 998,470 shares of the technology company’s stock worth $115,844,000 after buying an additional 79,362 shares in the last quarter. Barclays PLC boosted its stake in shares of CGI by 182.6% in the third quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock worth $54,808,000 after acquiring an additional 308,040 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of CGI by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 560,159 shares of the technology company’s stock worth $64,518,000 after purchasing an additional 21,427 shares in the last quarter. Blue Trust Inc. raised its stake in CGI by 47.6% during the 4th quarter. Blue Trust Inc. now owns 1,163 shares of the technology company’s stock valued at $134,000 after purchasing an additional 375 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in CGI by 21.1% in the 3rd quarter. Wellington Management Group LLP now owns 96,516 shares of the technology company’s stock worth $11,118,000 after purchasing an additional 16,844 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors.

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.