UBS Group Issues Positive Forecast for CGI (NYSE:GIB) Stock Price

CGI (NYSE:GIB) (TSE:GIB.A) had its price objective hoisted by UBS Group from $118.00 to $122.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

Several other equities analysts have also recently issued reports on GIB. Jefferies Financial Group dropped their price target on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $178.00 price objective on shares of CGI in a research report on Monday, January 6th. StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Finally, CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and raised their target price for the stock from $155.00 to $178.00 in a research note on Tuesday, October 15th. 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 MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $153.25.

CGI Stock Performance

Shares of CGI stock opened at $120.15 on Monday. The firm’s fifty day simple moving average is $111.32 and its 200-day simple moving average is $111.64. CGI has a 12 month low of $96.92 and a 12 month high of $121.55. The stock has a market capitalization of $27.24 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 2.59 and a beta of 0.94. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.04.

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 (EPS) 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%. As a group, equities analysts forecast that CGI will post 5.79 earnings per share for the current year.

CGI Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 14th will be given a $0.1039 dividend. This represents a $0.42 annualized dividend and a yield of 0.35%. The ex-dividend date is Friday, February 14th. CGI’s payout ratio is 7.41%.

Institutional Investors Weigh In On CGI

Several institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC purchased a new position in shares of CGI in the 2nd quarter valued at about $2,907,000. CWM LLC grew its position in CGI by 14.8% during the third quarter. CWM LLC now owns 1,365 shares of the technology company’s stock worth $157,000 after buying an additional 176 shares during the period. Creative Planning increased its holdings in CGI by 16.1% in the third quarter. Creative Planning now owns 25,179 shares of the technology company’s stock valued at $2,895,000 after buying an additional 3,490 shares in the last quarter. Walter Public Investments Inc. lifted its position in shares of CGI by 10.5% during the 3rd quarter. Walter Public Investments Inc. now owns 227,796 shares of the technology company’s stock valued at $26,194,000 after acquiring an additional 21,582 shares during the period. Finally, Net Worth Advisory Group acquired a new stake in shares of CGI during the 3rd quarter valued at approximately $467,000. 66.68% of the stock is currently owned by hedge funds and other 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.