CGI (NYSE:GIB) Sets New 1-Year Low – Time to Sell?

CGI Inc. (NYSE:GIB) (TSE:GIB.A) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $92.85 and last traded at $93.82, with a volume of 48423 shares traded. The stock had previously closed at $96.47.

Analysts Set New Price Targets

GIB has been the topic of several recent analyst reports. UBS Group increased their target price on shares of CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $192.00 target price on shares of CGI in a research note on Wednesday, March 26th. Finally, Jefferies Financial Group cut their price objective on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $156.75.

CGI Stock Up 0.1 %

The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28. The firm has a market cap of $22.00 billion, a PE ratio of 17.50, a P/E/G ratio of 2.58 and a beta of 0.85. The business’s 50-day simple moving average is $108.16 and its 200 day simple moving average is $110.64.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, meeting the consensus estimate of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. As a group, equities research analysts expect that CGI Inc. will post 5.79 earnings per share for the current year.

CGI Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 14th were given a $0.1039 dividend. This represents a $0.42 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, February 14th. CGI’s payout ratio is 7.41%.

Institutional Trading of CGI

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in shares of CGI by 8.6% during the 3rd 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 in the last quarter. Barclays PLC boosted its stake in shares of CGI by 182.6% during the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock worth $54,808,000 after acquiring an additional 308,040 shares in the last quarter. Blue Trust Inc. grew its position in shares of CGI by 47.6% during the 4th quarter. Blue Trust Inc. now owns 1,163 shares of the technology company’s stock valued at $134,000 after acquiring an additional 375 shares during the period. Jane Street Group LLC increased its stake in shares of CGI by 19.2% in the 3rd quarter. Jane Street Group LLC now owns 39,784 shares of the technology company’s stock valued at $4,574,000 after purchasing an additional 6,403 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of CGI by 21.1% during the 3rd quarter. Wellington Management Group LLP now owns 96,516 shares of the technology company’s stock worth $11,118,000 after buying an additional 16,844 shares during the period. Institutional investors and hedge funds 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.