CGI (NYSE:GIB) Sets New 12-Month High – What’s Next?

CGI Inc. (NYSE:GIB) (TSE:GIB.A)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $122.06 and last traded at $122.33, with a volume of 60249 shares. The stock had previously closed at $120.65.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on GIB shares. Royal Bank of Canada restated an “outperform” rating and issued a $178.00 price target on shares of CGI in a research report on Monday, January 6th. UBS Group raised their price target on CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Jefferies Financial Group dropped their price target on CGI from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Finally, StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $153.25.

CGI Stock Up 1.5 %

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 firm has a market cap of $27.76 billion, a PE ratio of 22.14, a PEG ratio of 2.62 and a beta of 0.94. The stock has a fifty day moving average price of $112.23 and a 200-day moving average price of $112.13.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share (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%. Research analysts expect that CGI Inc. will post 5.79 EPS for the current year.

CGI Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 14th will be given a $0.1039 dividend. This represents a $0.42 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend is Friday, February 14th. CGI’s dividend payout ratio is presently 8.32%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in CGI by 8.6% in the 3rd quarter. Geode Capital Management LLC now owns 998,470 shares of the technology company’s stock worth $115,844,000 after acquiring an additional 79,362 shares in the last quarter. Barclays PLC increased its holdings in shares of CGI by 182.6% during the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock valued at $54,808,000 after acquiring an additional 308,040 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of CGI by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 560,159 shares of the technology company’s stock valued at $64,518,000 after acquiring an additional 21,427 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in CGI in the 3rd quarter valued at approximately $825,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in CGI by 68.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock valued at $157,485,000 after buying an additional 555,017 shares during the last quarter. 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.