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

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

GIB has been the topic of several other research reports. Jefferies Financial Group dropped their target price 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. UBS Group lifted their price objective on CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CGI has an average rating of “Buy” and an average price target of $156.75.

CGI Trading Down 1.2 %

Shares of NYSE:GIB opened at $98.09 on Wednesday. The company has a market capitalization of $22.24 billion, a PE ratio of 17.74, a PEG ratio of 2.58 and a beta of 0.96. CGI has a 12-month low of $96.92 and a 12-month high of $122.79. The business has a 50 day moving average of $110.31 and a two-hundred day moving average of $111.55. The company has a current ratio of 1.31, a quick ratio of 1.04 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%. As a group, analysts forecast that CGI will post 5.79 EPS for the current year.

CGI Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of CGI in the 3rd quarter valued at approximately $28,000. Sierra Ocean LLC acquired a new stake in shares of CGI during the fourth quarter worth about $62,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of CGI in the fourth quarter worth $83,000. Hoey Investments Inc. acquired a new stake in CGI in the 4th quarter valued at about $99,000. Finally, Blue Trust Inc. increased its position in shares of CGI by 47.6% in 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 last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

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.