CGI Group (NYSE:GIB) Rating Increased to Strong-Buy at TD Securities

by · The Markets Daily

TD Securities upgraded shares of CGI Group (NYSE:GIB – Free Report) (TSE:GIB.A) to a strong-buy rating in a report published on Wednesday,Zacks.com reports.

Several other analysts have also recently commented on the company. Jefferies Financial Group reiterated a “hold” rating and issued a $81.00 target price (down from $105.00) on shares of CGI Group in a report on Monday, November 10th. Cibc Captl Mkts downgraded shares of CGI Group from a “strong-buy” rating to a “hold” rating in a research report on Sunday, December 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CGI Group in a research note on Monday, December 29th. Royal Bank Of Canada reissued an “outperform” rating on shares of CGI Group in a research note on Monday, January 5th. Finally, Scotiabank began coverage on shares of CGI Group in a report on Tuesday. They issued a “sector perform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $117.00.

Get Our Latest Report on CGI Group

CGI Group Stock Up 0.1%

Shares of NYSE:GIB opened at $85.77 on Wednesday. The firm has a market cap of $18.80 billion, a P/E ratio of 16.06 and a beta of 0.59. CGI Group has a 12-month low of $83.75 and a 12-month high of $122.79. The business has a fifty day simple moving average of $90.97 and a 200 day simple moving average of $91.96. The company has a quick ratio of 0.72, a current ratio of 0.94 and a debt-to-equity ratio of 0.28.

CGI Group (NYSE:GIB – Get Free Report) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, January 28th. The technology company reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.04). The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $4.08 billion. CGI Group had a net margin of 10.25% and a return on equity of 18.61%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.97 EPS. Analysts predict that CGI Group will post 5.79 earnings per share for the current year.

CGI Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Wednesday, February 18th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, February 18th. CGI Group’s payout ratio is 8.99%.

Institutional Trading of CGI Group

Several large investors have recently made changes to their positions in GIB. Davis Rea LTD. raised its stake in CGI Group by 15.9% during the 4th quarter. Davis Rea LTD. now owns 42,200 shares of the technology company’s stock worth $3,900,000 after buying an additional 5,779 shares during the period. Danske Bank A S acquired a new stake in CGI Group in the third quarter valued at approximately $768,000. Hughes Financial Services LLC bought a new stake in shares of CGI Group during the third quarter valued at approximately $174,000. Entropy Technologies LP acquired a new position in shares of CGI Group during the third quarter worth approximately $236,000. Finally, Kepler Cheuvreux Suisse SA bought a new position in shares of CGI Group in the 3rd quarter worth $6,498,000. 66.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Group Company Profile

(Get Free Report)

CGI Group Inc is a global information technology and business consulting firm that delivers a broad range of services including IT consulting, systems integration, application development and maintenance, infrastructure and network services, managed IT and business process outsourcing. The company works with clients to design, build and operate IT systems and business solutions, with capabilities spanning cloud and hybrid IT environments, cybersecurity, data analytics and artificial intelligence, digital transformation and enterprise resource planning implementations.

Founded in 1976 in Quebec by Serge Godin and André Imbeau, CGI has grown from a regional systems integrator into a multinational professional services organization.

Featured Stories