CGI (NYSE:GIB) Announces Quarterly Earnings Results

CGI (NYSE:GIB) (TSE:GIB.A) announced its quarterly earnings data on Wednesday. The technology company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.38 by $0.03, reports. CGI had a net margin of 11.51% and a return on equity of 20.21%. The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.62 billion.

CGI Price Performance

NYSE GIB traded down $0.35 on Friday, hitting $112.17. The company had a trading volume of 23,637 shares, compared to its average volume of 147,661. The company has a market capitalization of $25.56 billion, a PE ratio of 20.81, a PEG ratio of 2.38 and a beta of 0.96. The company’s fifty day moving average price is $113.97 and its 200-day moving average price is $107.58. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 0.86. CGI has a 12-month low of $96.92 and a 12-month high of $118.89.

CGI Dividend Announcement

The business also recently declared a — dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be issued a $0.111 dividend. This represents a yield of 0.4%. The ex-dividend date is Wednesday, November 20th. CGI’s payout ratio is presently 2.04%.

Analysts Set New Price Targets

Several research firms recently issued reports on GIB. StockNews.com cut shares of CGI from a “hold” rating to a “sell” rating in a research note on Thursday. Sanford C. Bernstein upgraded shares of CGI to a “strong-buy” rating in a research note on Thursday, August 1st. UBS Group began coverage on shares of CGI in a research note on Friday, July 19th. They issued a “neutral” rating and a $112.00 target price for the company. Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and boosted their target price for the company from $155.00 to $178.00 in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $137.00.

Institutional Investors Weigh In On CGI

Several institutional investors and hedge funds have recently added to or reduced their stakes in GIB. Janus Henderson Group PLC grew its holdings in shares of CGI by 3,776.8% during the first quarter. Janus Henderson Group PLC now owns 699,798 shares of the technology company’s stock worth $77,381,000 after buying an additional 681,747 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of CGI by 9,135.3% during the first quarter. Bessemer Group Inc. now owns 126,986 shares of the technology company’s stock worth $14,011,000 after buying an additional 125,611 shares in the last quarter. Fiera Capital Corp grew its holdings in shares of CGI by 2.7% during the third quarter. Fiera Capital Corp now owns 4,384,639 shares of the technology company’s stock worth $505,173,000 after buying an additional 114,864 shares in the last quarter. Andra AP fonden purchased a new stake in shares of CGI during the second quarter worth $11,418,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of CGI by 22.3% during the second quarter. Dimensional Fund Advisors LP now owns 625,106 shares of the technology company’s stock worth $62,394,000 after buying an additional 113,903 shares in the last quarter. Hedge funds and other institutional investors own 66.68% of the company’s stock.

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.