CGI Inc. (NYSE:GIB) Given Consensus Rating of “Buy” by Brokerages

CGI Inc. (NYSE:GIB) (TSE:GIB.A) has been assigned a consensus rating of “Buy” from the five ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, two have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $137.00.

GIB has been the topic of a number of analyst reports. StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and upped their price objective for the company from $155.00 to $178.00 in a report on Tuesday, October 15th.

Hedge Funds Weigh In On CGI

A number of hedge funds have recently modified their holdings of the business. DGS Capital Management LLC lifted its position in CGI by 1.8% in the third quarter. DGS Capital Management LLC now owns 31,280 shares of the technology company’s stock valued at $3,596,000 after buying an additional 539 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of CGI in the 3rd quarter worth approximately $28,000. Unigestion Holding SA boosted its position in shares of CGI by 75.0% during the 3rd quarter. Unigestion Holding SA now owns 26,310 shares of the technology company’s stock worth $3,027,000 after purchasing an additional 11,280 shares during the period. Toronto Dominion Bank increased its holdings in CGI by 23.9% in the 3rd quarter. Toronto Dominion Bank now owns 561,741 shares of the technology company’s stock valued at $64,578,000 after purchasing an additional 108,428 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in CGI by 8.6% in the third quarter. Geode Capital Management LLC now owns 998,470 shares of the technology company’s stock valued at $115,844,000 after purchasing an additional 79,362 shares during the period. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

CGI Trading Down 2.1 %

GIB opened at $112.31 on Friday. The firm has a market capitalization of $25.60 billion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 2.55 and a beta of 0.94. The company’s 50 day simple moving average is $112.96 and its two-hundred day simple moving average is $109.04. 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 Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th will be given a $0.111 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a yield of 0.4%. CGI’s dividend payout ratio is currently 8.18%.

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.