CGI’s (GIB) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of CGI (NYSE:GIB) (TSE:GIB.A) in a report published on Monday,Benzinga reports. They currently have a $178.00 price target on the technology company’s stock.

Other equities research analysts have also issued reports about the company. CIBC raised CGI from a “neutral” rating to an “outperformer” rating and raised their price target for the stock from $155.00 to $178.00 in a research note on Tuesday, October 15th. Cibc World Mkts raised shares of CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Two 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $147.25.

CGI Price Performance

NYSE:GIB opened at $109.15 on Monday. The firm has a market capitalization of $24.87 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 2.55 and a beta of 0.95. The business has a 50 day simple moving average of $110.99 and a 200-day simple moving average of $110.36. CGI has a 1 year low of $96.92 and a 1 year high of $118.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.02.

CGI Announces Dividend

The firm also recently announced a — dividend, which was paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th were issued 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 8.18%.

Institutional Investors Weigh In On CGI

Large investors have recently modified their holdings of the business. Wilmington Savings Fund Society FSB purchased a new position in CGI during the third quarter valued at approximately $28,000. Blue Trust Inc. increased its holdings in shares of CGI by 288.2% in the 3rd quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock valued at $91,000 after acquiring an additional 585 shares during the period. CWM LLC raised its position in shares of CGI by 14.8% in the 3rd quarter. CWM LLC now owns 1,365 shares of the technology company’s stock worth $157,000 after acquiring an additional 176 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of CGI by 9.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock worth $205,000 after purchasing an additional 173 shares during the last quarter. Finally, Werba Rubin Papier Wealth Management bought a new stake in CGI during the third quarter valued at about $208,000. Institutional investors own 66.68% of the company’s stock.

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.