CGI (NYSE:GIB) Sets New 1-Year Low – What’s Next?

Shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $96.75 and last traded at $98.94, with a volume of 98295 shares changing hands. The stock had previously closed at $98.12.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. UBS Group boosted their price target on CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Jefferies Financial Group lowered their target price on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $192.00 price target on shares of CGI in a research note on Wednesday, March 26th. Two research 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. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $156.75.

CGI Trading Up 0.6 %

The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31. The business has a fifty day simple moving average of $109.94 and a 200 day simple moving average of $111.29. The stock has a market cap of $22.98 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 2.58 and a beta of 0.96.

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

CGI Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 14th were issued a dividend of $0.1039 per share. The ex-dividend date was Friday, February 14th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.41%. CGI’s dividend payout ratio (DPR) is presently 7.41%.

Hedge Funds Weigh In On CGI

Institutional investors and hedge funds have recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in CGI in the 3rd quarter valued at $28,000. Sierra Ocean LLC purchased a new stake in shares of CGI in the fourth quarter valued at $62,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in CGI in the fourth quarter valued at $83,000. Hoey Investments Inc. purchased a new position in CGI during the fourth quarter worth about $99,000. Finally, Blue Trust Inc. boosted its stake in CGI by 47.6% in the 4th quarter. Blue Trust Inc. now owns 1,163 shares of the technology company’s stock worth $134,000 after buying an additional 375 shares during the last quarter. Hedge funds and other institutional investors own 66.68% of the company’s stock.

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.